Eurobank S.A. completes takeover bid for Hellenic Bank

12:20 - 07 August 2024

Financial Services

Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A., announced the successful completion of its mandatory takeover bid for Hellenic Bank Public Company Limited for the acquisition of up to 100% of its issued share capital. This follows the bid submission on 4 June 2024.

The final review of the acceptance and transfer forms revealed that the takeover bid was accepted by shareholders holding a total of 1,984,781 shares of the target company, representing a 0.481% acceptance rate. Prior to the bid's expiry on 30 July 2024, Eurobank S.A. already held 229,030,025 shares, accounting for 55.481% of Hellenic Bank's issued share capital.

The acceptance of the takeover bid increased Eurobank S.A.'s total shareholding to 231,014,806 shares, or 55.962% of Hellenic Bank's issued share capital.

Payments to shareholders who accepted the bid were executed via bank transfers and cheques on 6 August 2024. The offeror also completed the off-exchange transfer of securities through The Cyprus Investment and Securities Corporation Limited (“CISCO”).

CISCO and Axia Ventures Group served as advisors to Eurobank S.A. throughout the takeover bid process.

(Source: CNA)

Eurobank S.A. completes takeover bid for Hellenic Bank

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