The Credit Agricole Group on Tuesday submitted to the Capital Market Commission a plan for holding a voluntary public proposal for acquisition of the remaining 4 percent share stake in its Greek subsidiary Emporiki Bank.
The proposal is for 1.76 euros per share, which represents a premium of approximately 30 percent.
Credit Agricole currently holds some 91 percent of Emporiki's shares and, exclusively for the purposes of the Public Proposal, is acting in coordination with the 5 percent shareholder Sacam, as required under Greek law.
Credit Agricole said in an announcement that, with this move, it reaffirms its commitment to its subsidiary Emporiki.