The Cyprus Securities and Exchange Commission (CySEC) on Thursday approved Eurobank’s request to exercise the squeeze-out right to acquire 100 per cent of Hellenic Bank’s shares.
The offer price for the remaining shares has been set at €4.843 per share, payable in cash.
The approval was officially granted on May 5, 2025, according to a press release by Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A.
The acquisition is being carried out under Article 36(5) of the Public Takeover Bids Law of 2007 to 2022.
Eurobank currently holds 404,525,263 shares in Hellenic Bank, which represents 97.99 per cent of its total issued share capital.
The squeeze-out applies to the remaining 8,279,967 shares, which account for just over 2 per cent of the bank’s issued share capital.
The offer price of €4.843 per share matches the consideration offered during the earlier public offer stage.
In line with the provisions of Article 36(5) of the law, Eurobank will notify the affected Hellenic Bank shareholders in writing.
It will also immediately pay them the full cash amount due and take the necessary steps to transfer the shares into its name.
This move marks the final step in Eurobank’s full takeover of Hellenic Bank, solidifying its position as the sole shareholder.
