Eurobank to acquire 100% of Hellenic Bank - CySEC approves squeeze-out

09:42 - 08 May 2025

Financial Services

The Cyprus Securities and Exchange Commission (CySEC) has approved the exercise of the squeeze-out right for the acquisition of 100% of Hellenic Bank’s shares by Eurobank.

According to an announcement on the Cyprus Stock Exchange (CSE), “Further to the announcement dated April 29, 2025, Eurobank S.A. (the ‘Offeror’), a subsidiary of Eurobank Ergasias Services and Holdings S.A., informs the investing public that on May 5, 2025, the Cyprus Securities and Exchange Commission approved the Offeror’s request to exercise the Squeeze-Out Right for the acquisition of 100% of the shares of Hellenic Bank Public Company Limited (the ‘Target Company’, ‘Hellenic Bank’), pursuant to Article 36(5) of the Public Takeover Bids Law of 2007 to 2022 (the ‘Law’).”

It is noted that as of 8 May, Eurobank directly holds 404,525,263 shares, representing 97.994% of the total issued share capital of Hellenic Bank.

The exercise of the squeeze-out right concerns the remaining 8,279,967 shares of Hellenic Bank, which represent 2.006% of the issued share capital of the Target Company.

The consideration to be offered to the shareholders of Hellenic Bank through the squeeze-out process will be €4.843 per share, payable in cash, which is equal to the consideration offered during the public offer process.

According to the provisions of Article 36(5) of the Law, Eurobank will notify the affected shareholders of the Target Company in writing, immediately pay the total amount of the offered consideration to those shareholders, and take the necessary steps for the transfer of the Target Company’s shares to its name.

Eurobank to acquire 100% of Hellenic Bank - CySEC approves squeeze-out

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