Eurobank to increase stake in Hellenic Bank to 26% in €70m deal

Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings (Eurobank Holdings), has agreed to acquire a 13.41% stake in Hellenic Bank Public Company, a Cyprus-based bank, from Wargaming Group for €70 million.

The deal increases the stake of Eurobank in Hellenic Bank to 26%.

It is said to be in line with Eurobank’s broader strategy to further bolster its footprint in its core markets.

Eurobank to increase stake in Hellenic Bank to 26% in €70m deal. Photo courtesy of Joehawkins/Wikimedia Commons.

The closing of the deal is subject to receipt of regulatory approvals and till then, Wargaming Group will have the full legal and beneficial ownership of the shares agreed to be divested along with all rights attached with them.