Foundation slashes Erste Bank stake

The foundation shareholder of Erste Group Bank said on Thursday that it had sold a stake in the bank worth around €210m.

  • By Andrew Griffin
  • 05 Dec 2013

Erste Stiftung sale of 8.5m shares, around 2% of the bank, takes the foundation down to 21.7%. The shares closed at €24.96 on Wednesday.

The shares were sold to a limited number of investors through a private placement, the foundation said.

The foundation has agreed to a 90 day lock-up.

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