Nachrichten May 09, 2014

Shearman & Sterling Advises Eurobank Ergasias S.A. on its €2.9 Billion Capital Increase

Shearman & Sterling advised Eurobank Ergasias S.A., one of the four systemic banks in Greece, on its €2.864 billion capital increase led by Barclays, Deutsche Bank and J.P. Morgan as Joint Global Coordinators.

The purpose of the offering was to increase Eurobank's Core Tier I capital to meet its additional capital needs as prescribed by the Bank of Greece. Prior to the capital increase, the Hellenic Financial Stability Fund (an entity set up under the auspices of the International Monetary Fund, the European Union, and the European Central Bank) was Eurobank's controlling shareholder with a 95.2% shareholding. Upon completion of the capital increase, private investors, including a consortium of cornerstone investors, held 64.6% of Eurobank's ordinary shares.

The Team