American billionaire investor John Paulson has completed his full exit from Alpha Bank, selling his remaining stake through a book-building process. The transaction, finalized on Thursday, involved the sale of 53 million shares, representing 2.3% of the Greek lender’s share capital, generating total proceeds of €118 million ($129 million).
The sale was executed with remarkable speed, as the order book was fully subscribed within just 15 minutes. The shares were priced at €2.219 ($2.42) per share, slightly below Alpha Bank’s closing price of €2.30 on the Athens Stock Exchange. Paulson had already begun reducing his stake in Alpha Bank earlier this month when he sold a 2.4% shareholding, raising €109.1 million ($119.3 million) at a price of €1.915 per share.
With his exit from Alpha Bank, Paulson’s investment firm, Paulson & Co. Inc., now maintains a 13.62% voting stake in Piraeus Bank, another major Greek financial institution.
Paulson reaffirmed his long-term commitment to Piraeus Bank, stating that he remains a strategic shareholder and intends to support the bank’s growth and value creation. He also expressed strong confidence in its leadership, noting that Paulson & Co. Inc. is “highly impressed” by Piraeus Bank’s management and performance.
Additionally, it was confirmed that Alex Blades, a partner at Paulson & Co., will continue to serve on Piraeus Bank’s board of directors, ensuring ongoing representation in the Greek banking sector.
