Demetra Holdings schedules EGM for vote on sale of Hellenic Bank shares to Eurobank

10:56 - 17 December 2024

Financial Services Reporter

Demetra Holdings Plc has scheduled an extraordinary general meeting for 9 January, 2025, to vote on the sale shares in Hellenic Bank to Eurobank A.E.

Shareholders at the extraordinary general meeting will be asked to vote on the disposal by the company of the shares it holds in the share capital of Hellenic Bank, namely 88,064,705 shares, by selling these shares to Eurobank SA for a cash consideration of €4.843 per share.

The meeting follows a recent milestone €492 million deal between Eurobank and Demetra Holdings, as well as Logicom, which has put Eurobank in the running for 100% of Hellenic Bank.

The new agreement, which now allows Eurobank S.A. to proceed undividedly with its strategic planning for Hellenic Bank and especially in the merger of the bank with Eurobank Cyprus, was sealed late on 24 November and announced on the morning of 25 November.

Based on the agreement, Eurobank will acquire 88,064,705 Hellenic Bank shares (21.33%) from Demetra - currently the second largest shareholder in Hellenic - for a price of approximately €426 million and 13,729,704 Hellenic Bank shares (3.33%) from Logicom, for a price of approximately €66 million.

Also read: €492m deal with Demetra and Logicom puts Eurobank in the running for 100% of Hellenic Bank

Demetra Holdings schedules EGM for vote on sale of Hellenic Bank shares to Eurobank

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