Eurobank to acquire the remaining shares in Hellenic Bank for €470m.

Eurobank, a financial organisation that operates in Greece, Cyprus, Luxembourg, Bulgaria and the UK, agreed to acquire the remaining shares in Hellenic Bank, a bank in Cyprus, for €470m. The consideration of €2.56 per share is at a discount of 3.03% over the closing share price on the day prior to the announcement of the submission of the Takeover Bid and at a premium of 14.84% over the average closing price for the 12 months preceding the announcement of the Takeover Bid. Moreover, the consideration offered is at a discount of 33.91% compared to the net asset value per share of Hellenic Bank based on the unaudited condensed interim consolidated financial statements for the three-month period ended 31 March 2024.