Greek shipping bank Aegean Baltic Bank (ABBank) headquartered in Marousi, a suburb in the northeastern part of the Athens urban area, in Greece, will soon be under the statutory majority and control of a company of interests of Aristotelis Mistakidis.
Aegean Baltic Bank (ABBank) announced that Aristotelis Mistakidis has successfully completed the Bank of Greece and ECB’s fit and proper assessment, so the process enabling a company affiliated with Mr. Mistakidis to acquire statutory majority and control of ABBank has been approved by the competent regulatory and supervisory authorities.
Shipping finance is the major business sector of ABBank. A large number of international financial institutions and hedge funds have participated in syndicated loans managed by ABBank.
ABBank, established in December 2002, with branches in Piraeus and Glyfada, started as a specialist in the sector of shipping and since the early days of its operation.
The entry of Mr. Mistakidis into ABBank marks the beginning of a new era, ABBank said, of strong development and growth.
Earlier this year a purchase and sale agreement of a majority stake of ABBank’s shares has been signed between the bank’s principal shareholders and a company of interests of Aristotelis Mistakidis.
At that time, the bank said that this will lead to the acquisition, by Mistakidis, of statutory majority and control of the entity.
According to the bank’s statement, “Mistakidis expressed his trust in the board of directors, the management team and the employees of ABBank, who are confident that his vision and strategic approach will significantly contribute to ABBank’ s mission of providing exceptional banking services.”
