HFSF launches disposal of its stake in Eurobank
The Hellenic Financial Stability Fund (HFSF) on Monday announced the launch of the disposal of its stake in the share capital of Eurobank.
In line with the founding law of the fund, and as part of HFSF Divestment Strategy, the fund announced its intention to dispose of its entire stake in Eurobank Ergasias Services and Holdings SA, namely 52,080,673 common registered shares, corresponding approximately to 1.401% of Eurobank’s paid-up share capital and voting rights through a disposal process open to eligible investors.
The competitive process will entail a bidding process which commenced on Monday and will end on October 6 at 5.30 p.m.
It also stated that last Friday the HFSF received an initial binding offer from Eurobank for the acquisition of the shares via a targeted share buyback which following discussions is set at a price of 1.80 euros per share and on Sunday the HFSF and Eurobank entered into a conditional sale and purchase agreement for the sale and transfer of the shares.
