Eurobank announced that it has entered into share purchase agreements with Demetra Holdings Plc and Logicom Services Limited pursuant to which, Eurobank has agreed to acquire 24.66% holding (101,794,409 shares) in Hellenic Bank Public Company Limited for a consideration of 493 million, corresponding to 4.843 euro per share.
More specifically, Eurobank will acquire 88,064,705 Hellenic Bank shares (21.33%) from Demetra, for a consideration of 426 million euros and 13,729,704 Hellenic Bank shares (3.33%) from Logicom, for a consideration of 66 million.
The Transaction is subject to regulatory approvals and the approval of the General Assembly of the shareholders of Demetra and will be completed after their fulfillment and in any case not earlier than 8 February 2025, which is six months after the completion of the last mandatory tender offer.
Until completion, the sellers shall have the full legal and beneficial ownership of the shares agreed to be sold, together with all rights attached thereto.
Eurobank currently holds 55.962% in Hellenic Bank, therefore after the completion of the Transaction, its total holding in Hellenic Bank will amount to 93.47%.
