Following the decision of its shareholders’ general meeting, Eurobank Ergasias Services and Holdings S.A. (“Eurobank”) announces that it has entered into a conditional share purchase agreement (the “Conditional SPA”) with HFSF to acquire all of its issued shares held by HFSF, namely 52,080,673 common registered shares, corresponding to approximately 1.401% of Eurobank’s paid-up share capital and voting rights (the “Shares”) at a price of €1.80 per Share (“Offer”).
According to the terms of the Conditional SPA, the HFSF will launch a disposal process open to eligible investors (the “Competitive Process”) and the sale and transfer of the Shares to Eurobank is subject to:
a) the non-selection by HFSF of a preferred bidder through the Competitive Process; and
b) the spot price at the close of trading on the Athens Stock Exchange on the date on which the Competitive Process will end (“Spot Price”) being lower than or equal to the Offer or in case the Spot Price is higher than the Offer, Eurobank exercising its discretionary option to match the Spot Price.
The results of the Competitive Process are expected to be announced on or around 06.10.2023 and the latest 2 hours before the opening of trade on 09.10.2023. Further details on the Competitive Process are available on HFSF’s announcement, which is available at HFSF’s website (https://hfsf.gr).
PotamitisVekris Law Firm acts as legal counsel to Eurobank on the transaction.