The mandatory public offer by Eurobank S.A. to acquire up to 100% of the shares in Hellenic Bank Public Company Limited has been completed. The offer of the Greek bank which was announced on June 4, of this year, was made by Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A.
After a thorough review of the Acceptance and Transfer Forms, the acceptance rate for the offer reached 0.481%, with submissions covering 1,984,781 shares of Hellenic Bank. Combined with the 55.481% (229,030,025 shares) already held by Eurobank at the end of the offer on July 30, the total stake now stands at 55.962% (231,014,806 shares).
Payments to shareholders who accepted the offer were processed via bank transfers and checks on August 6. The share transfer was handled off-exchange by The Cyprus Investment and Securities Corporation Limited (“CISCO”), with CISCO and Axia Ventures Group serving as advisors throughout the process.
Looking ahead, the Greek systemic bank aims to fully integrate Hellenic Bank’s accounting operations, with this process slated to begin in the third quarter of 2024. Initially, Eurobank’s two Cypriot subsidiaries will continue as separate entities, given their complementary operations. Changes to the board of directors and management team overseeing this integration are expected to take place promptly.
Source: tovima.com
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