Greek shipping banker Theodore Afthonides has taken control of an overwhelming majority stake in Aegean Baltic Bank (ABB) and is planning a huge capital increase.
Following the changes in the shareholding, the bank plans to increase its capital to EUR 100m ($137.5m) in two phases in the near future.
Afthonides now controls 78.14% of the bank, which was set up in December 2002, with HSH Nordbank holding 51% and Afthonides and other partners holding the remaining 49%.
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