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HFSF picks advisers for Eurobank increase

By Yiannis Papadoyiannis

Eurobankís 3-billion-euro share capital increase is now on track to completion after Sundayís vote on the multi-bill that included provisions for the recapitalization of banks.

Kathimerini has learned that Eurobankís major shareholder, the Hellenic Financial Stability Fund (HFSF), has chosen Morgan Stanley and Lazard as consultants for the process, while the Greek lenderís governing board will convene during the week to start the procedure and call an extraordinary general meeting of shareholders.

According to the new law, the general meeting can take place as early as seven days after the publication of the invitation. Therefore all decisions will have been made in the first couple of weeks of April, with an aim for the share capital increase, and particularly the participation of strategic investors, to have been completed by the end of the month.

The new legislation also provides for the sale price of the new shares to be below that which the HFSF paid to participate in Eurobankís recapitalization last year (1.26 euros per share) or even the current price on the stock market (0.48 euros).

ekathimerini.com , Monday March 31, 2014 (22:47)  
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