The commitment of Paulson & Co. Inc. to remain a long-term shareholder of Piraeus Bank is emphasized in a statement from the bank, regarding a transaction that took place yesterday, in which American investor John Paulson sold 35 million shares of the bank.

The statement provides details:

Piraeus Financial Holdings announces that its shareholder, Paulson & Co. Inc., informed them on February 24, 2025, about the following:

Paulson has successfully completed the sale of 35 million common shares of Piraeus, representing approximately 2.8% of Piraeus' share capital, at a price of €4.58 per share, through a streamlined book-building process.

The total value of the transaction amounts to approximately €160 million. Settlement of the transaction is expected to occur by February 26, 2025.

Paulson stated to Piraeus, regarding the transaction:

"Paulson & Co., as part of a portfolio restructuring, has sold 35 million shares of Piraeus Financial Holdings S.A. in a transaction that took place after the market closed today. Following this sale, Paulson remains the largest shareholder of Piraeus, holding approximately 170 million shares or 14% of the company. Paulson is highly impressed with the performance of the Bank and its Management. Paulson is committed to remaining a long-term shareholder and to participating in the growth and value enhancement of Piraeus. Paulson partner, Alex Blades, will continue to be an active member of Piraeus' Board of Directors."