Late Greek Bank Buyout Didn't Break Aid Rules, EU Says

Law360, London (January 15, 2020, 5:15 PM GMT) -- The European Commission gave its blessing to the $85 million sale of a subsidiary of Piraeus Bank to competitor Eurobank on Wednesday, finding the lenders did not break the rules on Greece's financial bailout by missing a deadline to complete the deal. 

Piraeus had pledged to sell its foreign branches by the end of 2018 following a probe by the commission during the country's bailout in the wake of the last financial crisis. As part of the bailout, Eurobank was also banned from acquiring new businesses for the same period of time.

The lenders announced the sale of the Bulgarian subsidiary...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!