Eurobank further increases its stake in Hellenic Bank

Greek lender Eurobank Ergasias announced a new acquisition of shares in Hellenic Bank, further increasing its stake in Cyprus’ second largest lender.

Eurobank S.A., a subsidiary of “Eurobank Ergasias Services and Holdings S.A.” (“Eurobank Holdings”), announced the acquisition of a 3.2% holding (13,230,000 shares) in Hellenic Bank Public Company Limited (“Hellenic Bank”) from funds managed by Senvest Management LLC, for a consideration of €16.74 m.

Eurobank, now holds 15.8% in Hellenic Bank, the Greek bank said, recalling that on December 1st, 2022, the conclusion of a share purchase agreement ("SPA") with Wargaming Group Limited was announced, according to which Eurobank has agreed to acquire an additional 13.41% holding in Hellenic Bank, subject to regulatory approvals.

“Therefore, upon completion of the transaction under the SPA, Eurobank’s total holding in Hellenic Bank will amount to 29.2%, the Greek bank noted.