Monday, 23 April 2018
greek english
Home arrow News arrow Embassy News arrow National Bank offer to buy 100% of Eurobank

National Bank offer to buy 100% of Eurobank

National Bank on Friday announced that it has submitted an optional public offer to buy all common shares of Eurobank, in a move designed to create the largest banking group in Greece, the latest in a series of mergers and acquisitions, as part of drastic restructuring of the domestic banking sector.

Under the terms of the offer, National Bank plans to buy 100 pct of Eurobank through a share swap, offering 58 new shares for every 100 shares of Eurobank. After completion of the deal National Bank would hold 75 pct of the new bank and Eurobank the remaining share.
National Bank will acquire Eurobank’s common shares at a nominal price of 2.22 euros each, offering new common nominal shares at a new nominal price of 1.0 euro each. National Bank’s capitalization, based on market closing prices of Thursday, 4 October, totals 1.9 billion euros, while Eurobank’s at 603 million euros.

National Bank said the plan offered advantages of strategic significance as a new bank will create a large banking group with greater stability and sustainability, while in Southeastern Europe, the combination of products, networks and balance sheets will allow the group to better respond to the needs of the region. It also aims to achieve large scale synergies and added value through a credible integration plan, allowing the new bank to seek independence from the Financial Stability Fund in the coming years.amna


Last Updated Monday, 08 October 2012
Visit Greece

Visit Greece | The Official website of the Greek Tourism Organisation

Golden Visa Programme

Σπουδές στην Ελλάδα - Study in Greece

Educational and Cultural Tourism-Routes in Greece

RSS 2.0