Paulson & Co. inc. Sold 35 Million Piraeus Financial Holdings S.A. Shares Through An Accelerated Bookbuild
Piraeus Financial Holdings S.A. (“Piraeus”) announces that its shareholder, Paulson & Co. Inc. (“Paulson”), has informed it on 24 February 2025 of the following:
Paulson has successfully sold 35mn ordinary shares (the “Shares”) of Piraeus, corresponding to approximately 2.8% of Piraeus’ share capital, at a price of €4.58 per Share, through an accelerated bookbuild (the “Transaction”).
The total proceeds of the Transaction amount to approximately €160mn. Settlement is expected to occur on or around February 26th, 2025.
Paulson makes the following statement regarding the Transaction:
“Paulson & Co. sold 35mn shares of Piraeus Financial Holdings S.A. in a transaction after today’s market close due to portfolio rebalancing. After the sale, Paulson continues to be the largest shareholder of Piraeus, owning approximately 170mn shares or 14% of the company. Paulson has been immensely impressed with the performance of the Bank and its management. Paulson is committed to remaining a long-term shareholder and participating in Piraeus’ growth and revaluation. Alex Blades, a partner at Paulson, will continue to be an active member of Piraeus' Board of Directors.”
Piraeus proceeds with this announcement as it considers the said statements of its largest shareholder to constitute information of interest for the investment community.
Athens, February 25, 2025