Central Cooperative Bank To Acquire 66.67% of Skopje's Post Bank

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On September 11, 2007, the Management Board of Central Cooperative Bank (CCB) adopted a decision for acquisition of 25,660 ordinary voting shares, or 66.67% of the capital of Post Bank AD, Skopje. The seller is Eurostandard Bank, Skopje.

CCB's Supervisory Board approved the decision the same day.

The contract between CCB and Eurostandard bank was also signed the same day.

On October 4 CCB applied for the permission of Bulgarian National bank for the acquisition of the stake in the Macedonian bank.

ON October 8, CCB requested permission from The National Bank of Macedonia for the acquisition of the 25,660 ordinary voting shares of Skopje's Post Bank.

The deal will cause legal actions on the part of the Macedonian Government which owns 1 golden share in Post Bank Skopje.

3,037 shares changed hands yesterday at levels between 11.30 leva and 11.75 leva.

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