UPDATE 1-Greece's Piraeus Bank to absorb healthy part of cooperative lender

April 17, 2015 7:18 AM

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ATHENS, April 17 (Reuters) - Greece's Piraeus Bank has agreed to absorb the healthy part of small cooperative lender Panellinia after it failed to plug a capital gap, two banking sources told Reuters on Friday.

"The deal has closed, Piraeus agreed to take over the healthy part of Panellinia," one of the bankers said, declining to be named.

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