Deutsche Bank has completed the sale of Laiki Bank‘s 4.8% stake in Bank of Cyprus, consisting of 21.5 million shares, at €4.57 per share.
The transaction will benefit Laiki Bank’s creditors who suffered losses during the 2013 banking crisis.
Administrator Avgoustinos Papathomas finalised the sale following an earlier disposal in 2017, when then-administrator Kleovoulou Alexandrou sold a similar number of shares at €3.05 each.
This marks the second major share placement since Bank of Cyprus’s Athens Stock Exchange listing, following CarVal’s recent sale of a 3% stake. The buyers’ identities will be disclosed if any single purchaser acquired more than 5%.
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