Thrivest Holding Ltd, an investment company owned by individual investors, namely Messrs. Dimitrios Mpakos, Ioannis Kaimenakis and Alexandros Exarchou, acquired on 28 April 2023 a 4.91% minority stake in Attica Bank, a medium size Greek bank that has been struggling to raise regulatory capital for more than a year, by subscribing for rump shares in Attica Bank’s €473.3 mln share capital increase.
This acquisition follows Thrivest’s purchase earlier this year and in 2022 of a 43.63% stake in Pancreta Bank, a regional Greek bank, where we had also acted for Thrivest.
Thrivest’s investment in Attica Bank is the first step towards initiating the merger between Attica Bank and Pancreta Bank, the completion of which is, for the time being, subject to numerous conditions, including corporate and regulatory approvals.
The team was led by Christina Papanikolopoulou, head of the Finance & Capital Markets group, and included partner Elena Papachristou, senior associate Efthymis Naoumis and associates Vivian Efthymiou and Pinelopi Klara.
