Eurobank Ergasias Services and Holdings S.A. (“Eurobank”) announces the acquisition of all its issued shares held by Hellenic Financial Stability Fund (“HFSF”), namely 52,080,673 common registered shares at a price of €1.80 per share and a total consideration of €93.7 million.
Following the full disposal of the shares HFSF holds in Eurobank, Eurobank and its wholly owned subsidiary Eurobank S.A. will no longer be subject to law 3864/2010 and to the special rights of HFSF provided for in such law.
On the occasion of the acquisition of HFSF's entire participation in Eurobank, Mr. Fokion Karavias, Chief Executive Officer, said:
"The successful buy-back of HFSF's full participation in Eurobank is a milestone for the Bank, the banking system and the Greek economy. Eurobank becomes the first systemic bank without State participation in its share capital. Throughout the multi-year cycle of the domestic fiscal and financial crisis, HFSF provided more than financial stability; we had a productive collaboration in all stages, which led to today's result. HFSF’s Management and employees have been a strategic partner who invested in the Bank’s long-term viability and contributed experience and know-how to the bank’s vision for modernization and growth. I sincerely thank them for their support and contribution to our organization’s full recovery, just as I thank Eurobank’s people for their tireless efforts, often in a particularly difficult and demanding environment. Today, Eurobank is able to fulfill its ultimate purpose: Create value for all and promote social, financial and environmentally sustainable prosperity in the communities we serve, and above all, in Greece, supporting the country's path to growth".
Further details on the results of HFSF’s Competitive Process are available in HFSF’s announcement, which is available at HFSF’s website (https://hfsf.gr).
Potamitis Vekris Law Firm acted as legal counsel to Eurobank on the transaction.