Greece's Piraeus Bank to sell part of European Reliance stake to EBRD

May 4, 2016 10:30 AM

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ATHENS May 4 Greece's Piraeus Bank will sell part of its 28 percent stake in insurer European Reliance to the European Bank for Reconstruction and Development, a Piraeus official said on Wednesday.

Piraeus, Greece's largest lender by assets, plans to divest the entire stake as part of a restructuring plan which entails the disposal of non-core assets.

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