Greek Piraeus Bank sells Interattica stake to GeoPost for 2.7 mln Euro
Greek Piraeus Bank IT subsidiary Evision has completed the sale of its 66 pct stake in courier company Interattica Parcel Service Network for 2.7 mln euro ($3.15 mln), it was reported on January 20, 2006.
The stake was sold to French rival GeoPost, following a preliminary agreement signed in late-2005.
GeoPost plans to acquire a total of 86 pct in Interattica through share purchases from other shareholders as well.
Interattica will continue providing its services to Piraeus Bank.
Piraeus Bank, the parent company of Piraeus Bank Group, was founded in 1916. It is specialising in SMEs, retail banking, e-banking and capital markets. In June 2000, the Bank absorbed local Xiosbank and Macedonia-Thrace Bank, while in December 2003 it absorbed ETBAbank, becoming one of the largest private banks in Greece.
(Note: The abstract combines information published on news portal Euro2day and on Piraeus Bank corporate website.)
www.euro2day.gr, www.piraeusbank.gr
GeoPost takes majority share in Greek company Interattica
Paris, 25 January 2006 – DPD website
GeoPost, a subsidiary of the La Poste Group and European leader in the BtoB parcel and express delivery market, is continuing its development in Europe by acquiring 86.6% of the express parcel and documents delivery company Interattica, with an option on the remaining shares which can be exercised in 2008.
Paul-Marie Chavanne, CEO of GeoPost: “We are pleased with this acquisition. Not only does it complete the GeoPost network in Southern and Eastern Europe, it is a natural launching pad for the Balkan region as well.” As part of the GeoPost group Interattica becomes a partner of the DPD and Chronopost International networks.
Interattica is the fourth largest parcel and express Greek operator, with a turnover of around 11 million euros. It offers businesses complete coverage in the whole Greece territory which, because of its geography and the imbalanced population dispersal, is a particularly difficult territory to manage for a parcel delivery firm. The Greek parcel delivery market has been growing considerably over the past few years, both domestically and for import-export.
