Piraeus Bank lands major €98m stake in Greek Real Estate Co.

By Charlie Innis (January 21, 2022, 1:46 PM EST) – Piraeus Bank on Friday announced plans to acquire a 52% majority stake in Greek-based Trastor Real Estate Investment Co. SA for 98 million euros (about $111). million) of a subsidiary of private equity firm Värde Partners.

The transaction provides that the Greek bank will pay €1.25 per share to WRED LLC, the subsidiary of Värde Partners. Through the proposed deal, Piraeus Bank would add to its previously held 45% stake in Trastor and increase its stake to 97% of shares in the Athens-based property company, according to a statement.

Piraeus Bank said the deal would allow it to capture strong growth…

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