Piraeus to acquire a 90% stake in Ethniki Insurance from CVC for €600m.

Piraeus, a financial holdings company, agreed to acquire a 90% stake in Ethniki Insurance, an insurance firm in Greece, from CVC, a private equity firm, for €600m. The Transaction is expected to further diversify the revenue sources of Piraeus, enhancing value creation for shareholders, while it will complement our product range, covering the whole spectrum of banking, protection and investment solutions.