Nicosia: Eurobank has finalized the sale of its 8.58% stake in Demetra Holdings Plc to Logicom Services Limited, resulting in a transaction valued at approximately £27 million. The completion of this transaction, which took place on January 16, 2025, involved the transfer of 17,152,353 shares at a price of £1.55 per share.

According to Cyprus News Agency, Eurobank’s sale is part of a broader agreement with both Demetra and Logicom. This agreement not only covers the aforementioned transaction but also includes Eurobank’s planned acquisition of a 24.66% stake in Hellenic Bank Public Company Ltd. This acquisition will involve a 21.33% share purchase from Demetra and a 3.33% share purchase from Logicom.

The completion of Eurobank’s acquisition of the Hellenic Bank shares is anticipated around February 10, 2025, pending the necessary regulatory approvals.