Euronext secures majority stake in Athens Stock Exchange after tender offer

Euronext Athens Holding SA

19/11/2025 18:27

Nov 19 (Reuters) - Pan-European stock exchange operator Euronext ENX.PA said on Wednesday that it had successfully completed its voluntary share exchange tender offer for Hellenic Exchanges (ATHEX) EXCr.AT, securing about 74% of the Greek bourse's voting rights.

The acceptance period closed on Monday, with 1,962 shareholders tendering a total of around 43.0 million shares, surpassing the reduced minimum threshold, following Euronext's decision to lower the acceptance requirement from 67% to just over 50% of voting rights plus one share.

The offer allowed ATHEX shareholders to swap their shares for new Euronext shares at a ratio of 0.050 Euronext shares for each ATHEX share.

Greece's Finance Minister Kyriakos Pierrakakis commended the acquisition, calling it "one of the biggest investments in decades" and highlighting the deal's potential to boost liquidity, enhance capital access, and align with the EU's savings and investment policy. "It represents a strong vote of confidence in Greece," Pierrakakis said.

Euronext made the offer to buy ATHEX in a move aimed at consolidating European capital markets. It has said fragmentation is one of the reasons behind the gap in Europe's competitiveness against U.S. markets.

 (Reporting by Antonis Pothitos; Editing by Nick Zieminski)

 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))