Greece delays decision on sale of Ionian Bank

Article Abstract:

Ionian Bank's sale will be delayed by the Greek government at least until Aug. 25, 1998. The government seeks to study first the credibility of U.S. law firm Jan Morton Heger, the highest bidder, before making a decision, according to National Economy and Finance Minister Yannos Papantoniou. Jan Morton Heger represents an unknown American consortium that offered $1.12 billion for the 51% stake in Ionian. Exchange Finance Overseas, a holding company, and Greek banks EFG Eurobank and Ergobank offered $1 billion and 135.6 billion drachmas, respectively.

Comment:

Its purchase of Ionian Bank will be delayed by the Greek government at least until 8/25/98

Greece, Commercial Banks, Commercial Banking, Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Offices of Lawyers, Legal Services, Article, Ionian Bank, Jan Morton Heger

---

APEC agrees to gradual step in currency plan

Article Abstract:

Asia Pacific Economic Cooperation finance ministers have reached an agreement that bridges their disagreements on currencies. APEC members dismissed a U.S. proposal to persuade China and other Asian nations to liberalize their foreign exchange systems.

Strategy & planning, Administration of General Economic Programs, Other General Government Support, Coinage & Currency, Foreign Exchange & Reserves Policy, Planning, Foreign exchange, Money, Company business planning, Asia-Pacific Economic Cooperation

---

Central banks to buy the bonds of Asian nations

Article Abstract:

Central banks in the Asia-Pacific region are forming a pool of funds to buy regional government bonds. The central banks are putting together a pool of $1 billion (848.6 million euros) to buy the bonds.

National Government, Public Administration, Securities issued, listed, National Government by Function, Central banks, Securities, Bonds, Bonds (Securities), Company securities

Similar abstracts:

• Abstracts: Euro Zone shows signs of economic rebound. ECB backs off from the idea of rate increase. EU's economies contract as U.S. and Japan expand
• Abstracts: The decline of Japan's farmers. Rice racket rocks a nation
• Abstracts: Infosys adapts to stay on top. A giant stirs
• Abstracts: France Telecom Results Stagnate. Italian bank mergers may get push via Lodi
• Abstracts: German firm is in middle of fraud probe. EU harvests satellite images

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.