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ANNOUNCEMENT CrediaBank enters into a Share Sale and Purchase Agreement with the Shareholders of Pantelakis Securities S.A. for the Acquisition of a Majority Shareholding in PANTELAKIS Securities S.A.Athens, 11 May 2026
CrediaBank S.A. (the "CrediaBank" or the "Bank") hereby confirms that it has entered into a share sale and purchase agreement with the shareholders of Pantelakis Securities S.A. (the "Company" or "Pantelakis") for the acquisition of a 70.0% majority stake in the Company (the "Transaction"), including also a Call and Put Option for the acquisition of the remaining 30.0% of the Company's shares three years after the completion of the Transaction. The Transaction does not include the participation of Pantelakis (50%) in AssetWise SA. The consideration will amount to €8.75 million for 70% of the shares and is expected to have a minor impact on the Bank's capital position.
The parties aim to complete the Transaction within the third quarter of 2026, subject to the satisfaction of several conditions, including all necessary regulatory approvals.
Founded in 1920 by the Pantelakis family, the Company has been well established as one of the most reputable and leading brokerage firms in the Greek market. Pantelakis Securities is a member of Euronext Athens and offers a broad spectrum of services to both retail and institutional investors, providing access to the Greek as well as all major international equities and derivatives markets.
The Transaction underpins CrediaBank's strategy to expand and upgrade its product and service offering to its customers and to further strengthen its position in the capital markets. It is also expected to enhance its fee income and further diversify the fee revenue pools, with significant upside potential.
The Company will continue to operate seamlessly under its existing management team, while, with the Bank's strategic support and the access to a broad network of retail and corporate clients, it is expected to significantly expand its client base and further enhance its growth and outward looking prospects.
The law firm Papapolitis & Papapolitis acts as legal advisor to the Bank, while Deloitte Business Solutions has supported the Bank with the conduction of a confirmatory due diligence of the Company.
CrediaBank S.A.IMPORTANT NOTICE - DISCLAIMER
This announcement contains certain forward-looking statements. These statements reflect CrediaBank's current expectations, estimates, forecasts regarding its financial condition, operating results, plans, objectives, future performance and business activities, as well as the industry in which CrediaBank operates, and are based on hypotheses and assumptions that CrediaBank's management considers reasonable. There can be no assurance that forward- looking statements will prove to be accurate, as there are risks, uncertainties and other important factors beyond CrediaBank's control, due to which actual results and future events may differ materially from those provided for in these statements. Such forward-looking statements include known and unknown risks, uncertainties and other material factors beyond the Company's control that could cause the Company's actual results, performance or achievements to differ materially from the expected results, performance or achievements expressed or implied by such forward-looking statements. Therefore, CrediaBank warns against relying on any of these future statements and points out that it does not undertake to update the statements regarding future developments in the event that circumstances or management's estimates should change.