Shearman & Sterling LLP multinational law firm headquartered in New York City, United States.

News Jul 06, 2017

Shearman & Sterling Advises on Eurobank's Sale of Shares in Grivalia Properties

Shearman & Sterling advised Eurobank Ergasias S.A. and the joint bookrunners in connection with the sale by Eurobank of 20,252,001 ordinary shares in GRIVALIA PROPERTIES Real Estate Investments Company S.A. The sale was conducted as an institutional private placement by way of an accelerated bookbuild, at a price of €8.80 per share. HSBC Bank plc, AXIA Ventures Group Ltd and Eurobank Equities Investment Firm S.A. acted as joint global coordinators and joint bookrunners. 

The sale represented approximately 20% of the share capital of Grivalia and Eurobank's entire stake in Grivalia. The placement is designed to fulfill Eurobank's restructuring plan as agreed with the European Commission. 

The Shearman & Sterling team was led by partner Apostolos Gkoutzinis; counsel Pawel J. Szaja; and associate Evangelia Andronikou (all London-Capital Markets). Partners Simon Letherman (London-Tax); counsel Michael Scargill (London-Mergers & Acquisitions); and associate Lois Howarth (London-Tax) assisted on English law and tax matters.