Eurobank completes SPA to purchase 13.41% stake in Hellenic Bank
Eurobank already holds a 12.59% of Hellenic Bank.
Eurobank has announced the conclusion of a share purchase agreement ("SPA") with Wargaming Group Limited, under which Eurobank has agreed to acquire a 13.41% stake for a total consideration of €70,000,000.
The acquisition is subject to regulatory approvals and will be completed upon with respect to the proceeds. Until then, Wargaming Group Limited will continue to retain full legal and beneficial ownership of the shares for sale and all rights arising therefrom.
Eurobank already holds a 12.59% of Hellenic Bank and therefore, after the completion of the transaction, its participation will rise to 26.0%.
This investment is in line with the Eurobank Group's strategy to further enhance presence in key markets, in which it maintains a strategic interest and is a vote of confidence in the positive prospects of the Cypriot economy.