ECONOMY

ATEBank to sell 50 percent stake in SEKAP

Agricultural Bank of Greece (ATEBank), a state-controlled lender, will sell a 50 percent stake in its SEKAP tobacco unit for 25 million euros and its Elviz animal feed unit for 2.2 million euros.

The contracts still need to be signed for the deals to be final and SEKAP, which will be sold to India?s Bommidala Enterprises Pvt Ltd, will have to proceed with a 30-million-euro capital increase, Athens-based ATEBank said in an e-mailed statement on Monday.

[Bloomberg]