Zepos & Yannopoulos advises EBRD on the sale of its c. 5 % stake in Bank of Cyprus Holdings

Zepos & Yannopoulos advised the European Bank for Reconstruction and Development (EBRD) on the successful sale of its entire c. 5% holding in Bank of Cyprus Holdings Public Limited Company (BOCH) through an accelerated bookbuild offering to institutional investors on the Athens Exchange.

Since EBRD’s initial investment in 2014, Bank of Cyprus Public Company Limited, a subsidiary of BOCH, has achieved an impressive turnaround, posting an average return on equity of c. 20% over 2023 – 2024 and reducing its non-performing loan exposure ratio from c. 60% to just 2.5%.

We were pleased to work alongside McCann FitzGerald LLP, which advised on Irish law, and K. Argyridou & Associates LLC, which provided Cypriot law advice.

Our Finance & Capital Markets team was led by Efthymis Naoumis and Vivian Efthymiou, senior associates, supported by Katerina Chalka, associate.