Eurobank Ergasias SA (Eurobank) on Tuesday successfully completed a private placement to institutional investors for the sale of its equity stake of 20,252,001 shares in Grivalia Properties through a rapid book building procedure.
The transaction was made at a price of 8.80 euros per share. Eurobank said a total of 10,000,000 shares were distributed to subsidiaries of Fairfax, raising the company’s voting rights in Grivalia Properties to around 51.4 pct. Another 5,065,000 shares were distributed to other funds, managed by Pacific Investment Management Company LLC.
HSBC Bank plc, AXIA Ventures Group Ltd and Eurobank Equities acted as joint global coordinators and joint bookrunners of the private placement.