Global Capital said on Friday it is maintaining its offer to buy Lombard Bank, while confirming that York Capital is not involved in the bid.

Earlier in the week Global announced it was making a binding offer to the Special
Administrator of Cyprus Popular Bank for the purchase of its 49.01% stake in Lombard Bank Malta.

Its announcement also stated that “The company’s offer is supported financially by York  Capital, a leading private equity fund with over 25 billion Euro under management and by other institutional and private investors”.

But on Friday Global confirmed a story first reported in Times of Malta on Wednesday that York Capital is not involved.

It said York’s relationship with the company has been limited to a proposed financing of the company, and that York Capital has not been involved and is not presently involved in the bid to acquire the stake of Cyprus Popular Bank in Lombard Bank.

 

Independent journalism costs money. Support Times of Malta for the price of a coffee.

Support Us