Marfin: CNP paid the amount of €145 m for the acquisition of the 50,1% of Marfin Insurance
23/12/2008 10:46
Completion of the agreement for the partnershipof Marfin Popular Bank and CNP Assurances
Further to its announcement dated 19/12/2008 regarding the completion of the agreement for the partnership with CNP Assurances and a relevant inquiry from the Hellenic Capital Market Commission, Marfin Popular Bank Public Co Ltd (MPB) announces that, as it has already been stated in its relevant announcement dated 22/07/2008, CNP paid the amount of €145 m for the acquisition of the 50,1% of Marfin Insurance Holdings Ltd, the insurance arm of the MPB Group. It is noted that MPB received during 2008, in accordance with the above agreement, interim dividends totalling €20 m. In accordance with the above, the agreement is expected to bring to MPB extraordinary pre-tax profits of about €50 m - €60 m, the exact amount of which will depend on the net asset value of Marfin Insurance Holdings Ltd as at 31/12/2008 and will be finalised with the completion of the financial statements of MPB on the same date.
Further to its announcement dated 19/12/2008 regarding the completion of the agreement for the partnership with CNP Assurances and a relevant inquiry from the Hellenic Capital Market Commission, Marfin Popular Bank Public Co Ltd (MPB) announces that, as it has already been stated in its relevant announcement dated 22/07/2008, CNP paid the amount of €145 m for the acquisition of the 50,1% of Marfin Insurance Holdings Ltd, the insurance arm of the MPB Group. It is noted that MPB received during 2008, in accordance with the above agreement, interim dividends totalling €20 m. In accordance with the above, the agreement is expected to bring to MPB extraordinary pre-tax profits of about €50 m - €60 m, the exact amount of which will depend on the net asset value of Marfin Insurance Holdings Ltd as at 31/12/2008 and will be finalised with the completion of the financial statements of MPB on the same date.
