Eurobank S.A. has officially become the dominant shareholder of Hellenic Bank Public Company Limited, completing the acquisition of an additional 37.5% stake and bringing its total holding to 93.47%.
The transaction, worth approximately €750 million, was finalised on February 10, 2025, following regulatory approvals. The acquired shares were purchased from Demetra Holdings Plc, Logicom Services Limited, and various funds associated with the Cyprus Union of Bank Employees (ETYK).
Following this acquisition, Eurobank has launched a mandatory takeover bid to acquire the remaining shares of Hellenic Bank at a price of €4.843 per share in cash. Given that its ownership now exceeds 90%, Eurobank intends to exercise its squeeze-out right to gain full control of the Cypriot lender, in line with takeover regulations.
As Hellenic Bank has announced, “this strategic move marks a new chapter for the bank, reinforcing its stability and growth prospects”.
“Eurobank Group’s investment is a vote of confidence in the Cypriot economy, strengthening the stability of the country’s banking sector, promoting growth and innovation, and highlighting the attractiveness of the Cypriot market through the participation of international investors”, it pointed out
The takeover bid is now awaiting approval from the Cyprus Securities and Exchange Commission (CySEC).
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Source: CNA
