EFG Eurobank has completed its purchase of 99.34 percent of Ukraine’s Universal Bank after it was granted approval by regulators, it said late on Wednesday. EFG will immediately proceed with a capital increase for Universal, rename the Lviv-based bank to Eurobank EFG, and introduce new retail and corporate products as part of plans to expand its operations in Ukraine, EFG said. It did not give a price for the purchase. Universal has a network of 33 branches throughout Ukraine, total assets of 88 million euros and shareholder equity of 12 million euros at the end of 2006, EFG said. Separately, the Greek bank said yesterday is looking to open its first branch in Cyprus as part of its expansion strategy for the Mediterranean island, the bank said yesterday. “EFG Eurobank is considering the possibility of opening a branch in Nicosia as well as its independent development in the Cypriot market,” the bank said in a statement. (Reuters)

Greece privately placed 1 billion euros of its first inflation-linked 50-year government bond, the Finance Ministry said yesterday. The bond, maturing July 25, 2057, has a coupon of 2.085 percent. The placement was arranged by Goldman Sachs, National Bank, Alpha Bank and EFG Eurobank. “The confidence markets show in Greece’s economy are reflected by its ability to issue a 50-year bond,” Deputy Finance Minister Petros Doukas said in a statement. (Reuters)

Intralot. Intralot, the world’s second-biggest lottery systems supplier, said yesterday Turkey’s national lottery, Spor Toto, had temporarily suspended its sports betting game in the country. Intralot’s Turkish unit Inteltek is contracted to exclusively manage sports betting for Spor Toto until the end of 2011. Intralot said the suspension would last until Sport Toto contracts the game to a private company, following legislation last month to overcome a court decision that had blocked the government from contracting the fixed-odds sport bet to Inteltek. Analysts said the news was not expected to have any impact on Intralot, as its unit Inteltek is expected to be again awarded the sports betting contract. (Reuters)

Russia’s Gazprom Neft, the oil arm of Gazprom, is interested in the privatization of Serbia’s oil monopoly Naftna Industrija Srbije (NIS), the country’s deputy energy minister, Slobodan Sokolovic, was quoted as saying by Tanjug news agency yesterday. The Russian delegation will visit NIS, its refineries and storage facilities, he added. Merrill Lynch and Raiffeisen Investment, which are advising the government on the sale, have proposed a phased privatization, initially putting on sale only a 25 percent stake. The outgoing government of Prime Minister Vojislav Kostunica expected to get at least $300 million for the 25 percent stake. (Reuters)

Expansion of Greece’s manufacturing sector rose in February as the purchasing managers’ index (PMI) advanced to 53.1 points from 51.8 in January, a monthly survey of around 300 companies showed.