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SOCIETE GENERALS TAKEOVER OF OHRIDSKA BANKA


National.

Macedonian National Bank (NBRM) president Petar Goshev formally approved Friday the takeover by France's Société Générale of majority stake in Ohrid Bank.

The move gives a formal go-ahead to Société Générale, one of the leading corporate & investment bank in Europe, to acquire the majority stake in Ohrid Bank.

"The entry of the Société Générale in Macedonia reconfirms the efforts to create a banking sector environment acceptable to business and the largest world banking brands," Goshev's Cabinet said in a statement released on Friday.

NBRM will continue to encourage the entry of world banking brands into the Macedonian banking market.

France's banking giant launched a EUR 43 million takeover bid Thursday to acquire the overall capital of Ohrid Bank. Société Générale offered 133 euros per share.

[MakFax]

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February 27 2010:
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