ATHENS: Pan-European insurance and financial services group Eureko
has drafted in Hill & Knowlton Financial to handle its pounds 620m bid
to takeover Greek insurance firm Intermerican - the biggest ever
takeover bid in Greece.
The agency takes over from incumbent Citigate Dewe Rogerson on a brief
to handle all corporate, financial and IR work surrounding the deal.
Hill & Knowlton Greece, based in Athens and headed by office MD Robert
Hipkins, will work in tandem with H&K London on the remit.
Anthony Payne, H&K financial MD, heads the account reporting to Eureko
head of corporate communications Lorrie Morgan.
'We have the local Athens team working with the local press in Greece
and our investor relations specialist Giles Cooper dealing with all the
analysts,' said Payne.
The Eureko deal - which is still conditional upon shareholder and
regulatory approval - will be followed by a mandatory IPO, expected to
go ahead next year.
A PR agency has yet to be appointed to work on the IPO.
In life insurance, Intermerican has a market share in excess of 20 per
cent and a sales network with 87 offices and 134 branches in Greece in
addition to ten offices in Germany.
The firm was listed on the Athens Stock Exchange in June 1999 at a price
of pounds 4.50 per share.