Paulson & Co. reduces stake in Alpha Bank, selling 2.4% for €57 million, as reported by Bloomberg. Discover the details of this strategic move.
In a strategic maneuver that has captured the attention of financial analysts, Paulson & Co. has divested 2.4% of its holdings in Alpha Bank, following a recent reduction of its stake in Piraeus Bank. The transaction, valued at approximately €57 million, underscores the firm’s ongoing recalibration of its investments within the Greek banking sector.
According to Bloomberg, the sale involves the disposal of 2.4% of Alpha Bank shares, with the transaction facilitated by PCO AP Financing, a subsidiary under the aegis of Paulson & Co. The shares were priced at an indicative €1,915 each, leading to a total valuation of the placement estimated at around €109 million. UBS, serving as the bookrunner for this transaction, has confirmed that the book has been fully covered, indicating robust demand for the shares.
As a result of this divestiture, Paulson’s stake in Alpha Bank has diminished from 5.26% to a more modest 3%. This move follows closely on the heels of Paulson’s recent activity in Piraeus Bank, where the renowned American investor has also been active. Notably, Paulson’s stake in Piraeus Bank has seen a significant reduction from 19% as of December 31, 2024, to 13.62% after the sale of 5.38% of its shares over the past two months.
This series of transactions not only reflects Paulson’s strategic adjustments in response to market conditions but also highlights the dynamic nature of investment strategies within the volatile landscape of the Greek banking industry. As the financial community continues to scrutinize these developments, one cannot help but ponder the broader implications for both Paulson & Co. and the institutions involved.
