government bailouts following the Greek government-debt crisis, in July 2014 restructuring plans for the bank were approved. In November 2015 the European Commission approved amended restructuring plans for Alpha Bank and Eurobank and then for Piraeus Bank on 29 November 2015, allowing a new injection of €2.72 billion of public funds via the Hellenic Financial Stability Fund. In the following years, Piraeus Bank proceeded to divest abroad. In March 2017, it sold Piraeus Bank Cyprus to an investment group led by Lebanese businessman Maurice Sehnaoui, which renamed it AstroBank. In September 2017, it sold its Serbian banking and leasing operations of Piraeus Bank Beograd, to Direktna Banka A.D. In December 2017, it sold Piraeus Bank Romania to J.C. Flowers & Co. In April 2018, it sold Piraeus Bank Beograd to Direktna Banka A.D. In June 2019, it sold Piraeus Bank Bulgaria to Greek Eurobank and merged with its bank Postbank. As of June 2019, the Hellenic Financial Stability Fund held 26% of outstanding common shares, while the remaining 74% was held by the private sector (legal entities and individuals). HFSF had the option to €2 billion of perpetual bonds into Piraeus Bank shares in December 2022. As of November 2020, the total market capitalization of the bank was less than €500 million. The conversion was triggered in November 2020, giving HFSF a further 35% share of the bank, worth less than 200 million euro, a paper loss of over 1.5 billion euro. In November 2020, the bank was nationalised. See also List of banks in Greece List of companies of Greece Banking in Greece References External links Piraeus Bank Athens Exchange quote on BloombergBusiness Piraeus Bank OTC quote (Grey Market) on BloombergBusiness Banks of Greece Companies listed on the Athens Exchange Companies based in Athens Banks under direct supervision of the European Central Bank Greek brands Banks established in 1916 Greek companies established in 1916