Eurobank announces the conclusion of agreements for the acquisition of 12.848% in Hellenic Bank and 8.58% in Demetra Holdings

“Eurobank Bank Limited Company” (“Eurobank”), a subsidiary of “Eurobank Ergasias Services and Holdings Company Limited”, announces the conclusion of share purchase agreements (“SPA”) with the Cyprus Bank Employees’ Union, the Cyprus Bank Employees Welfare Fund, the Cyprus Bank Employees Union (Mental and Physical) Health Fund and the Cyprus Bank Employees Provident Fund (“Sellers”) pursuant to which Eurobank agreed to acquire a 12.848% interest (53,037,786 shares) in Hellenic Bank Public Company Ltd (” Hellenic Bank”) in exchange for a total price of approximately €243 million or €4.58 per share (“Transaction”).

The Transaction is subject to regulatory approvals and will be completed upon their full fulfillment and in any case no earlier than February 8, 2025, i.e. six months after the completion of the previous mandatory public offering. Until then, the Sellers will continue to retain full legal and beneficial ownership of the shares for sale and all rights arising therefrom.

Eurobank already owns 55.962% of Hellenic Bank and after the completion of the Transaction, its participation will rise to 68.81%. In compliance with the provisions of the Law on Public Offers of 2007 of the Cypriot legislation, Eurobank, upon completion of the Transaction, will make a Public Offer for all shares of Hellenic Bank that will not belong to it at that time.

In addition, Eurobank announces the conclusion of share purchase agreements with the Cyprus Bank Employees Welfare Fund, the Cyprus Bank Employees Union (Mental and Physical) Health Fund and the Cyprus Bank Employees Provident Fund under which Eurobank has agreed to acquire a percentage of 8.58% (17,152,353 shares) to Demetra Holdings Plc (“Demetra”) for a total consideration of approximately €32.4 million or €1.89 per share.

Demetra is a holding company and, among other things, owns a 21.3% stake in Hellenic Bank, being the second largest shareholder. The accounting value of the participation in Hellenic Bank represents approximately 77% of Demetra’s net worth based on the published data of 30.06.2024.