August 8 (SeeNews) - Macedonia's Komercijalna Banka [MSE:KMB] and Albanian investment group Balfin have signed a binding agreement to acquire Albania's Tirana Bank from Greece's Piraeus Bank, the Macedonian lender said on Wednesday.
Balfin will own a majority stake in Tirana Bank, Komercijalna said in a statement filed with the Macedonian Stock Exchange.
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Tirana Bank will continue to operate as a separate entity, Komercijalna added.
The deal is subject to approval from the respective regulators.
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