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Hellenic in full control of Eurobank – Bought all the shares of Pimco

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Its share goes to 46.5%, it becomes the main shareholder of the Bank and proceeds to a public offering

Στον πλorρη ελεγχο τησ Eurobank η Ελληνικor - Αγoρασε oλες τις μετ&omicron ;χèς της Pimco

Στον πλorρη ελεγχ ο της Eurobank η Ελληνικor - Αγoρασε oλες τι&sigmaf ; μετοχéς της Pimco

By Panagiotis Rougalas

The Eurobank bought all of Pimco's shares from Hellenic Bank for €167.9 million, or €2.35 per share.

Automatically, Eurobank's participation in Hellenic will rise to 46.5% and upon completion of the Transaction, it will make a mandatory Public Offer for all the shares of Hellenic Bank.

Eurobank proceeded to buy and sell all the shares. of Poppy S.à r.l. (PIMCO), additionally acquired the participation of 17.3% (71,428,572 shares) that Pimco had in Hellenic Bank and from 29.2% it hopefully reaches 46.5%.

As noted in a related announcement, the acquisition is subject to regulatory approvals and will be completed after their full fulfillment. Until then Poppy S.à r.l. will continue to retain full legal and beneficial ownership of the shares to be sold, as well as all rights arising therefrom. Eurobank may consider the acquisition of additional shares through other transactions, the completion of which will be subject to the respective regulatory approvals.

It is emphasized that, upon completion of the transaction, it will make a mandatory Public Offer for all shares of Hellenic Bank that will not belong to it at that time.

According to Eurobank, a statement which has also advanced in previous share acquisitions from Hellenic Bank, states that, “this investment is harmonized with the Eurobank Group's strategy to further strengthen its presence in the key markets, in which it maintains a strategic interest and is a vote of confidence in the positive prospects of the Cypriot economy”.

Source: www.kathimerini.com.cy

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