Eurobank acquires 12.6% of Hellenic Bank

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Greece’s Eurobank Ergasias announced it had completed the acquisition of 12.6% of Hellenic Bank, Cyprus’ second-largest lender.

The Greek bank said it completed the acquisition of a 2.7% stake of Hellenic Bank’s share capital, namely 11.19 million shares with a price of €8.95 mln.

Eurobank acquired the stake from Third Point Fund.

On July 23, the bank bought 9.9% of Third Point’s stake in Hellenic Bank and had signed an SPA to acquire the remaining 2.7% subject to regulatory approvals.

Eurobank made the announcement to the Athens Stock Exchange, adding that its holding in Hellenic Bank is now 12.6%.