Cyprus Mail
Business

Panama’s Lamesa increases Bank of Cyprus stake to over 8%

By Stelios Orphanides

Panama’s Lamesa Holding S.A. increased its stake in Bank of Cyprus to over 8 per cent, which makes it one of the largest owners of Cyprus’s largest lender, the bank said.

Lamesa acquired a total of 30,000,000 Bank of Cyprus shares for a total of over €4.4m on January 21, at an average price of €0.148 per share, the bank said in a statement on its website on Monday.

According to the Bloomberg.com, Bank of Cyprus is Lamesa’s only acquisition target so far with a transaction dated February 13, 2015.

According to the lender’s website, Cyprus Popular Bank Plc Co. Ltd, is the owner of 9.6 per cent of the bank’s share capital, while the stake of TD Asset Management and the European Bank of Reconstruction and Development is 5.2 per cent and 5 per cent respectively.

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