Lone Star’s decision not to launch a formal offer for Bank of Cyprus, after the bank rejected three earlier unsolicited offers, ends a short but diverting chapter for the Cypriot lender, at least for now. Under Irish takeover rules, unless another acquirer emerges, Lone Star can only come back with an offer after six months.
Yet even if Lone Star does not make another bid, this may not be the end of private equity and strategic interest in Cypriot, Greek and other peripheral eurozone lenders – and it could presage other deals.
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