Billionaire investor John Paulson has pulled out nearly €390 million from his holdings in Piraeus Bank and Alpha Bank, marking a significant retreat from Greece’s financial sector.
Paulson initially secured around €280 million by reducing his stake in Piraeus Bank from 18.62% to 13.62%. On Tuesday, he added another €109.1 million through an Accelerated Bookbuild Offering (ABO), offloading 57 million shares of Alpha Bank.
His exit appears deliberate and strategic, with the timing raising eyebrows. His sell-off began in late January, shortly after mass protests erupted in Greece over the Tempi train disaster, which fueled widespread public discontent. A similar pattern emerged with CVC Capital Partners, which also started unwinding its investments in Greece around the same time.
While it’s unclear if investors see deeper economic risks ahead, what is certain is that political and social unrest are becoming key concerns for those with stakes in the Greek market.
