NICOSIA, Cyprus (AP) – Cyprus’ Marfin Popular Bank said Monday it had signed a $137.4 million deal to acquire 99.2 percent of Ukraine’s Marine Transport Bank.
The deal is subject to the approval of regulatory authorities in Cyprus and Ukraine, Marfin said in a statement.
Marine Transport Bank is based in Odessa and has 86 branches.
Earlier this month, Marfin acquired an 8.07 percent stake in Cyprus’ biggest lender, the Bank of Cyprus.
Marfin Popular, the island’s second biggest lender, was created last year as part of a three-way banking merger between Cyprus’ Popular Bank and Greece’s Marfin and Egnatia banks.
