Billionaire Investor John Paulson Completes Exit from Greece’s Alpha Bank, Maintains Stake in Piraeus Bank

Paulson had already begun reducing his stake in Alpha Bank earlier this month when he sold a 2.4% shareholding, raising €109.1 million ($119.3 million) at a price of €1.915 per share.

American billionaire investor John Paulson has completed his full exit from Alpha Bank, selling

his remaining stake through a book-building process. The transaction, finalized on Thursday, involved the sale of 53 million shares, representing 2.3% of the Greek lender’s share capital, generating total proceeds of €118 million ($129 million).

The sale was executed with remarkable speed, as the order book was fully subscribed within just 15 minutes. The shares were priced at €2.219 ($2.42) per share, slightly below Alpha Bank’s closing price of €2.30 on the Athens Stock Exchange. Paulson had already begun reducing his stake in Alpha Bank earlier this month when he sold a 2.4% shareholding, raising €109.1 million ($119.3 million) at a price of €1.915 per share.

With his exit from Alpha Bank, Paulson’s investment firm, Paulson & Co. Inc., now maintains a 13.62% voting stake in Piraeus Bank, another major Greek financial institution.

Paulson reaffirmed his long-term commitment to Piraeus Bank, stating that he remains a strategic shareholder and intends to support the bank’s growth and value creation. He also expressed strong confidence in its leadership, noting that Paulson & Co. Inc. is “highly impressed” by Piraeus Bank’s management and performance.

Additionally, it was confirmed that Alex Blades, a partner at Paulson & Co., will continue to serve on Piraeus Bank’s board of directors, ensuring ongoing representation in the Greek banking sector.

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