Announcement: Eurobank entered into agreement to acquire 1.6% in Hellenic Bank

Hellenic Bank Pcl

25/08/2023 08:52

Eurobank announces that it has entered into an agreement to
acquire 1.6% in Hellenic Bank 

Following the announcement dated August 23rd, 2023, Eurobank
S.A. (“Eurobank”), announces that it has entered into a share
purchase agreement (“SPA”) with Senvest Management, LLC,
pursuant to which, Eurobank has agreed to acquire 1.6% holding
(6,587,676 shares) in Hellenic Bank Public Company Limited
(“Hellenic Bank”), for a consideration of € 15.5 million,
corresponding to €2.35/share (“Transaction”), subject to
possible adjustments depending inter alia on the timing of the
completion and the terms of the subsequent mandatory tender
offer. The completion of the acquisition is subject to customary
regulatory approvals. Until completion, Senvest Management, LLC
shall have the full legal and beneficial ownership of the shares
agreed to be sold, together with all rights attached thereto.
Eurobank may consider the acquisition of additional shares also
via other negotiated transactions, the completion of which will
be subject to the same customary approvals.     

Eurobank, currently holds 29.2% in Hellenic Bank, therefore
after the completion of the Transaction, as well as the
acquisition of the 17.3% stake from Poppy S.a.r.l  that was
announced on Wednesday August 23rd its total holding in Hellenic
Bank will amount to 48.1%