PRESS RELEASE - Acquisition of a qualifying holding in CDB Bank


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PRESS RELEASE - Acquisition of a qualifying holding in CDB Bank


The 7Q Investment Group (“7Q”) has received the relevant regulatory approval from the European Central Bank (“ECB”) for the acquisition of a qualifying holding in the Cyprus Development Bank Public Company Ltd (“CDB”) directly by 7Q Invest AIF V.C.I.C Plc I Multi Opportunities and by 7Q Holdings Ltd ( collectively referred to as “7Q”).

As a result, the completion of the transaction will see 7Q Investment Group as the largest shareholder in the Cyprus Development Bank with holding of 19.99%.

Founded in 1963, CDB bank was the first financial institution in Cyprus to provide project financing and offer valuable advice to governmental bodies on significant infrastructure issues. Currently CDB bank is active in personal, business, and international banking. The investment is aligned with the overall strategy of 7Q Investment Group to further strengthen its presence in all key sectors within the Financial Services industry.