World­view Cap­i­tal Man­age­ment wants big­ger stake in Hel­lenic Bank

Financial Mirror (Cyprus) - - FRONT PAGE -

World­view Cap­i­tal Man­age­ment, is re­port­edly, ready to buy a big­ger stake in Hel­lenic Bank from bil­lion­aire Dan Loeb’s Third Point.

The firm, which holds less than 5% of Hel­lenic Bank, wants to buy Third Point’s 26% stake, ac­cord­ing to World­view founder and part­ner An­gelo Moskov.

Ap­par­ently, Loeb’s hedge fund wants to sell its shares to At­las Mer­chant Cap­i­tal LLC, JC Flow­ers & Co. and Pa­cific In­vest­ment Man­age­ment Co.

“We have been a long-term in­vestor in Cyprus, and we are in­ter­ested to pur­chase their stake af­ter hear­ing in the mar­ket it’s for sale,” Moskov told Bloomberg.

“I am sure we can con­trib­ute more than those new in­vestors in the de­vel­op­ment of the bank.”

In­vestors are cir­cling Hel­lenic Bank, the third-big­gest Cypriot lender, as it at­tempts to buy the good part of the sec­ond-big­gest, Cyprus Co­op­er­a­tive Bank, in a deal with im­pli­ca­tions for the is­land’s fi­nan­cial sys­tem.

Fail­ure of the sale could spark an­other bank­ing cri­sis in sys­tem shack­led by bad loans.

“Ul­ti­mately of course the stake may go to the high­est bid­der, we re­alise this,” Moskov said. “But we would like to have a chance to par­tic­i­pate.”

World­view has writ­ten to Cypriot reg­u­la­tors ask­ing them to im­me­di­ately sus­pend the pro­posed Co-op deal in or­der to con­sider “se­ri­ous cor­po­rate gov­er­nance is­sues” and pro­tect mi­nor­ity share­hold­ers’ rights.

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