ATHENS Dec 29 Greece's largest lender Piraeus
Bank said on Thursday that it had completed the sale
of a majority stake in its Cyprus subsidiary to Holding M.
Sehnaoui SAL for 3.2 million euros ($3.3 million), reducing its
stake to 17.7 percent.
The divestment is part of Piraeus Bank's EU-approved
restructuring plan and will boost its core equity tier-1 capital
by about 15 basis points, the bank said.
UBS advised Piraeus on the sale.
($1 = 0.9547 euros)
(Reporting by George Georgiopoulos; Editing by Adrian Croft)