Marfin: Clarifications for acquisition of 99.2% of Marine Transport Bank
5/11/2007 10:33
Further to the announcements dated 19/3/2007 and 18/9/2007 on the acquisition of the Ukrainian “Marine Transport Bank” (MTB), Marfin Popular Bank Public Co Ltd announces the following:
- The acquisition falls within the framework of the strengthening of its presence and the offer of banking a financial services by MPB to SE Europe and is expected to affect positively the Group’s results.
- MPB acquired 99.2% of the share capital of MTB and its three associated companies, Investment Lease Company Renta, Premier Capital and Sintez Autoservice. The deal is at arm’s length and the goodwill has been calculated (preliminary) at $105 million.
- For the acquisition of the share capital of MTB, KPMG and PricewaterhouseCoopers carried out a due diligence, while the international legal firm, Chadbourne and Parke carried out the legal audit.
- According to the audited financial statements for 2006, the net profit stood at $4 million. The shareholders’ interest amounted to $39 million and the loans and deposits to $175 million and $179 million respectively.
- The acquisition falls within the framework of the strengthening of its presence and the offer of banking a financial services by MPB to SE Europe and is expected to affect positively the Group’s results.
- MPB acquired 99.2% of the share capital of MTB and its three associated companies, Investment Lease Company Renta, Premier Capital and Sintez Autoservice. The deal is at arm’s length and the goodwill has been calculated (preliminary) at $105 million.
- For the acquisition of the share capital of MTB, KPMG and PricewaterhouseCoopers carried out a due diligence, while the international legal firm, Chadbourne and Parke carried out the legal audit.
- According to the audited financial statements for 2006, the net profit stood at $4 million. The shareholders’ interest amounted to $39 million and the loans and deposits to $175 million and $179 million respectively.
