The Hellenic Financial Stability Fund (HFSF) on Monday announced that it has agreed to sell its entire stake in Alpha and has started the process for that in National Bank.
The stake in Alpha Services and Holdings SA – namely 211,138,299 common registered shares, corresponding to 8.9781% of Alpha’s paid-up share capital and voting rights – is sold to Italy’s UniCredit according to a share purchase agreement entered into between HFSF and UniCredit on November 12.
The transaction followed the completion of a competitive process launched by HFSF on October 30, triggered by a binding offer from UniCredit for the acquisition of the shares received by HFSF, on October 23.
UniCredit purchased all of the shares at a price of 1.39 euros per share, representing a premium of 9.4% to the undisturbed closing price of the shares on the Athens Stock Exchange on October 20,
the last business day prior to the receipt of the UniCredit offer, and a discount of 0.4% to the closing price of the shares on the bourse last Friday.
The HFSF also announced on Monday that a board meeting approved the offering to the state of a 20% equity stake in National Bank of Greece, with an upsize option of up to 182,943,031 shares at an offer price of 5-5.44 euros per share.
The bank bailout fund said that the bank is not offering any shares and will not receive any proceeds from the sale of its shares on offer, the net proceeds of which will be received by the selling shareholder.
The offer shares will be offered: (a) in Greece, to retail and qualified investors, pursuant to a public offering in accordance with European regulations on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, the applicable provisions of the 2020 and the implementing decisions of the board of directors of the Hellenic Capital Markets Commission; and (b) outside Greece, pursuant to private placements to persons reasonably believed to be qualified institutional buyers in the US and certain other institutional investors outside the US.
The book shall remain open during the Greek public offering period i.e. from Tuesday until Thursday. The offer price for each share may not be lower than €5 or higher than €5.44 per share.
Source : Ekathimerini