Regulated Information: Announcement of Business Developments

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that its Cyprus based wholly owned subsidiary under the legal name IREON INVESTMENTS LTD  participated in the international competitive tender procedure, initiated by the Special Administrator of Cyprus Popular Bank Public Co. Ltd, for the acquisition of a :


1)               97.08% stake in the share capital of Investment Bank of Greece S.A. 

2)               94.52% stake in the share capital of CPB Asset Management A.E.D.A.K. and

3)               100% stake in the share capital of Laiki Factors and Forfaiters S.A., 

jointly referred to as the “Assets”.

Following the evaluation process, IREON INVESTMENTS LTD was selected as the Preferred Bidder.

The Share Purchase Agreement (SPA) was signed on October 30, 2018 with the purchase price at EUR 73.5 million. The deal is subject to the approval by the relevant Competent Authorities.


Maroussi, 31 October 2018.

The Board of Directors


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