Hellenic Bank bid for Athena approved

The Cyprus Securities and Exchange Commission approved Hellenic Bank’s Public Offer made to acquire  up to 100% of the share capital of ‘Athena Cyprus Pcl’ (ATH). The acceptance period commences on 16 July and closes on 8 September 2009.
The consideration on offer is one (1) HB share for every three (3) ATH shares. HB and the persons acting in agreement with HB already hold 77.9% of ATH’s issued share capital. HB would need to issue up to 8.05 mln new shares representing EUR 11.3mln additional capital.