According to a plan that Eurobank’s management and current owner the Hellenic Financial Stability Fund (HFSF) have examined, a strategic investor is foreseen participating in the lender’s share capital increase with 750 million euros.
The rest of the funds for the 2-billion-euro increase are seen coming from institutional and private investors from Greece and abroad, with the aim being for the entire amount to be covered by private funds. The HFSF will only participate if that plan fails.
Kathimerini has learned that two parallel procedures will take place: The first will concern the potential strategic investor and the second the broader public. Regarding the strategic investor, all those interested after examining the details will have to apply to participate in the process by the end of the year. Then they will have to table a binding bid, with the participant that offers the highest price per share landing the strategic package, amounting to a 37.5 percent stake.
Four funds have already expressed an interest, including Fairfax, which has already implemented investments in Greece, the Apollo investment scheme and a fund backed by George Soros.