Wargaming’s investment in Hellenic: No losses, no gains

10:08 - 04 September 2023

Companies

If and when the regulatory authorities approve the transaction between Eurobank and Wargaming, it will mark the end of the Nicosia-based gaming company’s participation in Hellenic Bank’s share capital after almost a decade.

Wargaming has supported all of the capital increases at Hellenic since it first joined, with €40m in 2013, followed by another two investments, €63m in 2014 and €24m in 2019.

So in total, Wargaming has invested €127m without receiving any dividends throughout its almost 10-year presence.

With its agreement with Eurobank, Wargaming is set to get back almost the entire sum of its investment in Hellenic Bank. With the first agreement that was finalised back in April, Wargaming received €70m from Eurobank for 13.4% of its stake in the bank. The second transaction, for its remaining 6.8% stake, will see it receive another €65.9m.

The second transaction is higher due to an increase in Hellenic Bank’s share price over the past few months, while it may be adjusted further depending on the date when the transaction is completed and the terms of the subsequent public offering.

So in total, Wargaming is set to get back around €126m; in other words, the international gaming giant has neither gained nor lost from its investment in Hellenic.

(Source: InBusiness News)

Wargaming’s investment in Hellenic: No losses, no gains

News Feed

Read More