Piraeus Bank considers Asian Pacific partner for shipping financing

PireausBank

According to a Reuters report, Piraeus Bank is looking into a strategic partnership with a major Asian Pacific financial conglomerate that will help it provide financing to Greek shipping companies, Greece’s largest lender by assets said.

Piraeus did not name the Asian partner, nor provide details of what form such a deal would take.

“This pioneering initiative forms part of Piraeus Bank’s continued commitment to the shipping community, through investment of international capital into existing opportunities and new financing to the shipping industry,” the bank said.

Piraeus said its initiative aims to position the bank at the “forefront of servicing Greek shipping clients.”

Houlihan Lokey is acting as Piraeus Bank’s strategic and financial advisor in the sought transaction.

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