A company controlled by well-known Greek banker Michalis Sallas is reportedly ready to sell-off its 11.25 stake in Pancreta Bank, a percentage of the non-systemic financial institution that arose after its recent share capital increase.

The purchase of the 11.25-percent stake, held by Lyktos Group, to Thrivest Holding Ltd., controlled by a trio of local businessmen, will raise the latter’s stake in Pancreta Bank from 34 percent to 45 percent.

According to reports, the two side are in the final stages of approving the transaction, which is expected to be concluded by the first quarter of 2023.

Other reports point to a decision by Lyktos to sell-off its stake due to a lack of representation on the bank’s board of directors in the wake of the recent change in the share capital composition.

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