Eurobank, a subsidiary of Eurobank Holdings, on Friday announced the acquisition of a 9.9-percent holding, or 40.8 million shares, of Cyprus-based Hellenic Bank Public Co. Ltd, the parent company of Hellenic Bank.
Eurobank also announced a share purchase agreement with Third Point Hellenic Recovery Fund L.P., for the acquisition of another 2.7 percent, subject to all customary regulatory approvals. As a result, following approval, Eurobank stake will amount to 12.6 percent.
Hellenic Bank is billed as the second largest banking institution on Cyprus.
Axia Ventures Group acted as the financial advisor to Eurobank in connection with the transaction while Milbank LLP provided legal advice.
