Agricultural Bank of Greece says it owns 94.74% of Agrotiki Insurance

Agricultural Bank of Greece announced on Friday it held 94.74% in local insurer (ATH:AGRAS) Agrotiki Insurance as of 25 May 2010, when its EUR1.53 (USD1.9) per share offer for the insurer expired.

Agricultural Bank of Greece had 84.15% of Agrotiki Insurance on 26 April when it launched its offer, and had bought the additional shares during the acceptance period.

As its shareholding exceeds 90%, the bank will now exercise its right to request the transfer of the residual Agrotiki Insurance shares at the same price as in the offer within the following three months and then take the insurer private.

Country: Greece;

Sector: Insurance

Target: Agrotiki Insurance SA

Buyer: Agricultural Bank of Greece

Type: P2P

Status: Bidding

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