HFSF agrees to sell its 9.4% equity stake in Alpha Services and Holdings to UniCredit

Hellenic Financial Stability Fund (HFSF) on Monday announced that it has agreed to sell its entire stake in Alpha Services and Holdings S.A. – namely two hundred eleven million one hundred thirty-eight thousand two hundred ninety-nine (211,138,299) common registered shares, corresponding to 8.9781% of Alpha’s paid-up share capital and voting rights – to UniCredit S.p.A., pursuant to a share purchase agreement entered into between HFSF and UniCredit on 12 November 2023.

The transaction followed the completion of a competitive process launched by HFSF on 30 October 2023, triggered by a binding offer from UniCredit for the acquisition of the shares received by HFSF, on 23 October 2023. UniCredit purchased all of the Shares at a price of 1.39 per share, representing a premium of 9.4% to the undisturbed closing price of the shares on the Athens Stock Exchange on 20 October 2023, being 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 Athens Stock Exchange on 10 November 2023.

Lazard Frères SAS acted as Disposal Advisor and Rothschild & Co acted as Divestment Strategy Advisor. Skadden, Arps, Slate, Meagher & Flom (UK) LLP and Kyriakides Georgopoulos Law Firm acted as external legal counsel to HFSF.

HFSF announces public offer of 20% equity stake in National Bank of Greece

Hellenic Financial Stability Fund (HFSF) on Monday announced that a board meeting approved the the offering to the public in Greece 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.

In an announcement, HFSF said that the Bank is not offering any shares in the Offering and will not receive any proceeds from the sale of the Offer Shares, 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 Regulation (EU) 2017/1129 of the European Parliament 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 Law 4706/2020 and the implementing decisions of the Board of Directors of the Hellenic Capital Markets Commission; and (b) outside Greece, pursuant to private placements to (a) persons reasonably believed to be qualified institutional buyers in the United States of America and (b) certain other institutional investors outside the United States. The EBB shall remain open during the Greek Public Offering period (i.e. from 14 November 2023 until 16 November 2023) as of 10:00 Greek time, and until 17:00 Greek time, apart from the last day of the Greek Public Offering period, i.e. on 16 November 2023, on which it will close at 16:00 Greek time. OFFER PRICE The Offer Price for each Offer Share, which may not be lower than 5.00 or higher than 5.44 euros per Offer Share, and which will be identical in the Greek Public Offering and the International Offering, will be determined by the Selling Shareholder based on the result of the International Offering after the close of the book building period for the International Offering on or about 16 November 2023.

The Offer Price will be the same for all investors participating in the Greek Public Offering. EUROXX Securities S.A. is acting as Greek Public Offering Advisor and National Securities is acting as Greek Public Offering Coordinator and Lead Underwriter for the Public Offering.