For the Record: Wargaming to buy a bank on Cyprus
Source: http://www.sigmalive.com/news/oikonomia/73169 Thanks to Bishopcy for this one Hello everyone, as we all know, Wargaming.net (or rather, Wargaming Public Company Ltd.) is located on Cyprus. I think we all can guess the reason (no, it’s not the weather). Now, what do you do when you have a lot of money? You put it in a bank? Nah. You buy a bank. According to the abovelinked article (and if any of you guys understand Greek and is an economist, feel free to correct me if I wrote something wrong), Wargaming made a 50 million EUR bid yesterday to buy a majority share in one of the three biggest banks on Cyprus, the Hellenic Bank. Apparently, Wargaming has one competitor for the share purchase, whose bid was however smaller. The reason for this investment seems to be the fact that the bank is in dire need of recapitalization (35mil EUR), which both offers seem to cover. This article contains one more interesting fact: while the turnover for Wargaming in 2012 was 217 mil. EUR, for first 6 months of 2013 it is already 234 mil. EUR. The article also mentions the Golden Joystick Wargaming recieved as a sign of the company health and stability.