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Piraeus Bank (Cyprus) changing name

Piraeus Bank (Cyprus) Ltd. will change its name to AstroBank following the acquisition of a majority stake in December 2016 by a group of investors, the Cyprus Mail reported March 29.

Former majority owner Piraeus Bank SA now owns a stake of under 20% in the bank. The majority stake was acquired for €3.2 million by Holding M. Sehnaoui SAL, a company fronted by long-time Lebanese banker Maurice Sehnaoui.