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EGFEY
EFG Eurobank Ergasias ADR - OTCPK - Current

7/10/2014, 4:34 AM ET
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  • Eurobank - Greek Bank With Value Investors On Board
      New Capital Wed, Apr. 23 20 Comments

    Summary

    • Prem Watsa and Ross Wilbur have announced activist investment in a Eurobank - fourth-largest bank in Greece - making further equity dilution very unlikely and indicating bottom of the cycle.
    • This investment is very similar to the case of Bank of Ireland, where the same value-orientated investors with track record of business turnaround have tripled their money in 2.5 years.
    • Eurobank‚Äôs financial performance is already showing material improvements over the last few quarters. With recession foretasted to end this year and involvement of activist investors the turnaround should speed up.
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Company Description

Eurobank group is a European banking organization with total assets of 73.6 bn, offering universal banking across eight countries. Eurobank is Greeces second largest bank. It holds lead positions in Bulgaria, Romania and Serbia, offers Wholesale Banking and Wealth Management services in Cyprus,... More

Sector: Financial
Country: Greece
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