Piraeus Bank SA agreed to acquire additional 52% stake in Trastor Real Estate Investment Company SA (ATSE:TRASTOR) from Wred LLC for approximately €98 million on January 21, 2022. The Transaction is subject to ordinary conditions precedent including the consent of the Hellenic Financial Stability Fund. Completion of the Transaction will trigger a mandatory tender offer by the Bank for the remaining 3% free floating Trastor shares.

The deal is expected to be completed in the first quarter of 2022. The expected capital impact of the Transaction over the September 30, 2021 total capital ratio of Piraeus will be practically neutral. Nikos Papachristopoulos of M. & P. Bernitsas Law Offices acted as legal advisor to Wred LLC.