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December 4, 2023
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Eurobank increases stake in Hellenic Bank to 55.3%


Eurobank announced the conclusion of agreements for the acquisition of a 7.2% stake in Hellenic Bank.

More specifically, following its August 23 and August 25 announcements, Eurobank, a subsidiary of Eurobank Holdings, informed about the conclusion of share purchase agreements (SPAs) with Wargaming Group Limited (Wargaming) and the Provident Fund for the Executive Directors of Wargaming and Provident Fund for the Senior Management Personnel of Wargaming, based on which Eurobank agreed to acquire a total participation of 7.2% (29,710,012 shares) in Hellenic Bank, for a total price of 69.8 million euros or 2.35 euro/share, which may be adjusted, among other things, depending on the date of completion of the transaction and the terms of the subsequent public offer.

The acquisition is subject to regulatory approvals. Until then Wargaming and the provident funds will continue to retain full legal and beneficial ownership of the shares to be sold and all rights arising therefrom.

Eurobank may consider acquiring additional shares through other transactions, the completion of which will be subject to the respective regulatory approvals.

Eurobank already owns a 29.2% stake in Hellenic Bank and therefore, after the completion of the transaction and the acquisition of 17.3% from Poppy S.à r.l and 1.6% from Senvest Management LLC, as announced on August 23 and August 25 respectively, its percentage will reach 55.3%.

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