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Eurobank sells to private investors shares worth 2 billion euro

14 November 2013 / 21:11:14  GRReporter
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Eurobank started today a procedure to increase its capitalization, by trying to raise about 2 billion euro. In the first stage, it will seek these funds from private investors or from a strategic partner. Spiros Latsis’ former bank could not hold on to this year's recapitalization, failed to obtain the required private capital and had to pass under the supervision of the financial stability fund of Greece. The new recapitalization undertaken today aims at the financial strengthening of the bank, as announced in the official statement.
    Currently, the fund holds a 95.2% stake in Eurobank. The procedure has been announced after the close of the trading day, the Greek government and the lenders of the country have approved it, and British Barclays Capital, the British branch of Deutsche Bank and the American JP Morgan will coordinate the transaction.

Tags: EurobankGreek banksRecapitalizationGreek financial stability fundPrivate capitalStrategic investor
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