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Oct 2013

Bernitsas Law advises Eurobank on acquisition of New Hellenic Postbank and New Proton Bank

Bernitsas Law advised Eurobank on its acquisition of the New Hellenic Post Bank and New Proton Bank from the Hellenic Financial Stability Fund following a mandatory transfer order of their portfolios pre-liquidation, a transaction which took place in the context of the rehabilitation, consolidation and recapitalization of the Greek banking system in 2013.

Eurobank is one of Greece’s four systemic banks and listed on the Athens Exchange.

The Hellenic Financial Stability Fund was established in 2010 with the objective of contributing to the maintenance of the stability of the Greek banking system, for the sake of public interest.

The Bernitsas Law team was led by Athanasia Tsene. Panayotis Bernitsas led the team which represented Eurobank in obtaining first derogation (in July 2013) and subsequently clearance from the Hellenic Competition Commission for New Proton Bank in November 2013 and New Postbank in December 2013.