Eurobank acquires 17.3% in Hellenic Bank

Eurobank announced the acquisition of 17.3 percent (71,428,572 shares) in Hellenic Bank for 167.9 million euros or 2.35 euros/share.

The completion of the acquisition is subject to customary regulatory approvals. Until completion, Poppy S.à r.l. shall have the full legal and beneficial ownership of the shares agreed to be sold, together with all rights attached thereto.

Eurobank currently holds 29.2 percent in Hellenic Bank. After the completion of the transaction, its total holding in Hellenic Bank will amount to 46.5 percent. Consequently, in accordance with the provisions of the Takeover Bids Law of 2007 in Cyprus, Eurobank will proceed, following the completion of the transaction, to a mandatory tender offer for all the outstanding securities of Hellenic Bank not already held by it at the time.

The acquisition is aligned with the overall strategy of Eurobank Group to further strengthen its presence in its core markets and is a vote of confidence to the positive prospects of the economy of Cyprus.

Axia Ventures Group acted as the financial advisor to Eurobank in connection with the Transaction while Milbank LLP, Ioannides Demetriou LLC and Potamitis Verkis Law Firm provided legal advice.

Πηγή: https://www.naftemporiki.gr/english/1506174/eurobank-acquires-17-3-in-hellenic-bank/