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Bank of Cyprus Holdings Public Limited Company (“BOC Holdings” announced it sold tis entire shareholding of 49.9% in its associate CNP Cyprus Insurance Holdings Limited (“CNP CIH”) to CNP Assurances S. A. (the “Buyer”), who currently owns the remaining 50.1% and is the controlling party. The sale consideration amounts to €97.5 million, the bank said. Bank of Cyprus’ shareholding of CNP Insurance, which was a competitor as the banking group has its own insurance companies, was acquired during the absorption of part …
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