Greece’s bank rescue fund starts process to sell 1.4% stake in Eurobank

Greece’s bank rescue fund HFSF said on Monday it has initiated the process to sell a 1.4% it holds in Eurobank.

Interested investors can submit offers from Sept 25 to Oct 6, it said, adding that Eurobank had already submitted an offer on Sept. 22 for a targeted share buyback. Eurobank won shareholder approval in July to buy back the stake.

During the country’s financial crisis which broke out in 2010, the state-controlled HFSF acquired stakes in Greece’s four largest banks in turn for injecting about 50 billion euros to recapitalise them.
Source: Reuters (Reporting by Angeliki Koutantou; Writing by Renee Maltezou)