Global Capital Malta bids for Lombard Bank 49% shareholding

Global Capital plc has announced a substantial binding offer to acquire the majority 49% shareholding in Lombard Bank Malta plc.

The bid by Global Capital – which holds the second largest stake in Lombard Bank – has been submitted in writing to the Special Administrator of Cyprus Popular Bank Public Co. Ltd, which owns 21 million shares in Lombard Bank Malta.

The offer by Global Capital is financially supported by York Capital, one of the leading private equity funds with over €25 billion under management, and by other institutional and private investors.

Global Capital plc’s offer is not only binding, but also waives the requirement for a due diligence process to speed up the sale of the Cypriot shareholding which was authorised by the Special Administrator in 2016.