Today, Agri Europe Cyprus Limited unveiled its plans to launch an offer for the purchase of a minority stake in Addiko Bank AG, priced at EUR 17.50 per share (including dividends). The offer aims to acquire up to 3,315,344 shares, constituting approximately 17 percent of Addiko Bank’s share capital.
Additionally, Agri Europe has reached an agreement to purchase 1,947,901 shares of Addiko Bank from Infinity Management Limited, equivalent to around 9.99 percent of the bank’s share capital.
Combining the offer and private purchase, Agri Europe intends to secure up to 5,263,245 shares, representing 26.99 percent of Addiko Bank’s share capital.
The proposed price presents a premium of roughly 27.9 percent over the six-month weighted average price preceding the announcement, a 20.0 percent premium over the three-month weighted average price, and a 15.5 percent premium over Addiko Bank’s closing share price on March 22, 2024, which stood at 15.15 euros.
