Cyprus Business Now

Hellenic Bank on Thursday announced that it has entered into exclusive negotiations and a put option with CNP Assurances for the acquisition of its subsidiary CNP Cyprus Insurance Holdings Limited, which operates in Cyprus and Greece.

CNP Cyprus Insurance Holdings Limited consists of CNP Cyprialife Ltd, CNP Asfalistiki Ltd, CNP Zois SA and CNP Cyprus Properties Ltd, among others.

“Under the put option, CNP Assurances has the option to sell and Hellenic Bank is irrevocably committed...