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GD RT         Turnover  mln.

Eurobank to sell remaining 20% stake in Grivalia


Eurobank announced its intention to sell its 20% stake in Grivalia Properties, i. e. 20.25 mn shares at a minimum price of EUR 8.8 per share through an accelerated book-building process.


Fairfax and the Pacific Investment Management Company have expressed in writing an interest to buy 10.0 mn  and 5.065 mn shares, respectively.


Following the transaction, Fairfax will remain the main shareholder in Grivalia with a 41.5% stake, while if it acquires the additional 10.0 mn shares, its stake will rise to 51.4%.


The transaction with expected proceeds of at least EUR 180 mn should have a positive impact on Eurobanks CET1 ratio. The sale of the remaining stake in a Grivalia is part of the banks restructuring plan.

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