European banking regulators have cleared the planned takeover of a majority stake in small Greek shipping lender Aegean Baltic Bank (ABBank) by the UK-based billionaire investor Aristotelis (Telis) Mistakidis.
The former Glencore commodity trader has successfully completed the “fit-and-proper assessment” by the Bank of Greece and the European Central Bank (ECB), ABBank said in a statement.
Mistakidis entered ABBank after other investors, including the Coustas family, agreed to sell their participation in the firm.
