Eurobank, operating under the umbrella of "Eurobank Ergasias Services and Holdings S.A.", has declared its intent to increase its equity stake in Hellenic Bank Public Company Ltd. Through a Share Purchase Agreement (SPA) with Poppy S.à r.l., Eurobank is set to acquire an additional 17.3% (equivalent to 71,428,572 shares) of the Hellenic Bank. This transaction is priced at a total of 167.9 million euros, translating to 2.35 euros per share. It's important to note that this valuation might undergo adjustments based on certain conditions, including the completion date of this acquisition and subsequent public offering terms.

All proceedings related to this acquisition are pending the necessary regulatory approvals. Once these are granted and met, the acquisition will be finalized. Until that juncture, Poppy S.à r.l. will retain complete legal rights and ownership of the shares they're selling.

Eurobank's current investment in Hellenic Bank stands at 29.2%. With this new acquisition, the bank's stake in Hellenic Bank will climb to an impressive 46.5%. Given this significant increase, and in line with the 2007 Public Offers Law of the Cypriot legislation, Eurobank will subsequently make a mandatory public offer for all the remaining Hellenic Bank shares not in their possession.

In a statement, Eurobank highlighted the strategic importance of this move: "This decisive investment reaffirms the Eurobank Group's ambition to amplify its footprint in pivotal markets. It not only underscores our strategic interests but also signals our unwavering confidence in the Cypriot economy's forward trajectory."

For this acquisition, Eurobank partnered with Axia Ventures Group for financial consultancy. Legal guidance and support were furnished by esteemed entities: Milbank LLP, Ioannidis Dimitriou D.E.P.E., and the Potamitis Vekris Law Firm.