John Paulson to Participate in Piraeus Capital Increase
Bloomberg 2 hrs ago Jan-Henrik Förster and Sotiris Nikas
(Bloomberg) John Paulson is among investors planning to participate in a capital increase by Piraeus Bank aimed at helping the Greek lender to clean up its balance sheet and allow the government to reduce its stake.
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The billionaire investor, already one of the biggest private shareholders in Greece’s second-largest bank, will take up a significant stake alongside two other anchor investors, in a share sale that could raise as much as 1.38 billion euros ($1.66 billion), Piraeus said in a prospectus for the increase.
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Germany's financial watchdog BaFin has ordered the Frankfurt branch of the Greek lender Piraeus Bank to take measures to prevent money laundering and terror financing.
Germany's financial watchdog BaFin has ordered the Frankfurt branch of Greek lender Piraeus Bank to take measures to prevent money laundering and terror financing.
Greece’s reform of its hard-hit financial sector is taking a hazy turn. On the eve of a big recapitalisation of Piraeus Bank, the head of its largest shareholder, the Hellenic Financial Stability Fund, abruptly quit. While running the fund, which has stakes in Greece’s four.