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Bank of Cyprus completes Ukraine unit sale at 10 pct discount
April 18, 2014 / 3:18 PM / 3 years ago

Bank of Cyprus completes Ukraine unit sale at 10 pct discount

LONDON, April 18 (Reuters) - Bank of Cyprus said on Friday it had completed the sale of its loss-making Ukrainian subsidy to Russia’s Alfa Group for 202.5 million euros, a 10 percent discount from the originally agreed deal due to Ukraine’s economic and political uncertainty.

The Cypriot lender also said it had sold its stake in Romanian Banca Transilvania as part of its overseas deleveraging process. (Reporting by Michael Holden; editing by Jane Baird)

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