Discussions and processes are indeed underway for a possible acquisition of the second by the first
Discussions about a possible acquisition of CDB Bank by Astrobank are confirmed and both parties.
In an announcement made by CDB Bank to the Cyprus Stock Exchange, it notes that following publications, discussions and processes are indeed underway for a possible acquisition by Astrobank. He explains how the competent bodies of the Bank evaluate the data. It adds in its announcement that, in case an agreement is reached, its terms will be subject to various approvals and conditions, including those provided for by the relevant supervisory and regulatory framework.
“The operations of the banks are not affected by discussions and continue to be carried out smoothly”, he notes.
On the other hand, Astrobank in its own announcement notes that it is systematically considering acquisitions and other opportunities as part of its development plans in the Cypriot banking market.
“On this basis, preliminary discussions are being held between the parties involved and any transaction will be subject to corporate approval as well as shareholder and regulatory approval. AstroBank will continue to inform the market as required by the relevant provisions of the European and of Cypriot Law”, it concludes.
