Nov. 15 (Bloomberg) -- Shareholders of EFG Eurobank Ergasias SA and Alpha Bank SA approved a merger of the two banks today to form Greece’s biggest lender.
Eurobank shareholders will get five shares in the merged company, to be called Alpha Eurobank SA, in exchange for seven existing Eurobank shares, the Athens-based lender said in an e- mailed statement. The merger now needs approval from the Bank of Greece and the Greek government, Eurobank said.
--With assistance from Marcus Bensasson in Athens. Editors: Tim Farrand, Peter Woodifield
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