ECONOMY

Bommidala withdraws SEKAP offer

Agricultural Bank of Greece SA, a state-controlled lender, said India?s Bommidala Enterprises Pvt Ltd withdrew an offer to acquire a 50.4 percent stake in the lender?s SEKAP SA tobacco unit, according to an Athens bourse filing from the Greek bank on Wednesday.

Bommidala withdrew the offer after SEKAP shareholders failed to reach an agreement on a 30-million-euro share capital increase, which was a prerequisite for the planned stake purchase to go forward, the filing showed. [Bloomberg]