Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A., has submitted an application to the Cyprus Securities and Exchange Commission (CySEC) to exercise its squeeze out right for the full acquisition of Hellenic Bank Public Company Limited.

This follows the completion of its successful takeover bid, announced on April 25, 2025, through which Eurobank acquired 97.99 per cent of Hellenic Bank’s issued share capital.

As stipulated in Article 36 of the Takeover Bids Law of 2007 to 2022, once a shareholder secures more than 90 per cent of a company’s issued share capital, they are entitled to exercise the squeeze out right to acquire the remaining shares.

Eurobank intends to acquire the outstanding 2.006 per cent of shares in Hellenic Bank, which corresponds to 8,279,967 shares.

Moreover, Eurobank confirmed that the acquisition will be made at a price of €4.843 per share, consistent with the consideration offered during the takeover bid process.

The right to exercise the squeeze out may be invoked within three months from the end of the takeover bid acceptance period.

Finally, it should be noted that Eurobank formally submitted its application to CySEC to initiate this process under the provisions of the law on April 28.