12° Nicosia,
25 June, 2024

Wargaming intends to 'hold on' to Hellenic

Since November 2013, the tech firm has invested a total of €127 million in the Greek bank

Panayiotis Rougalas

Panayiotis Rougalas

Wargaming Group, a Cypriot technology company, intends to remain a shareholder in Hellenic Bank. Despite selling a 13.41% stake to Eurobank in early December, Wargaming says its goal now is to focus on what it says it "does best," which is creating good games.

Mr. Andrew Tinney, Wargaming's Chief Financial Officer (CFO), stressed at a press conference that the company has no debt (debt free), while also dismissing all rumors that the company sold its shares to the Greek bank to raise liquidity.

Marianna Pantelidou Neophytou, Chief of Staff to the company's CEO, emphasized that the company remains Hellenic Bank's fourth-largest shareholder and will remain a part of Hellenic with its 6.8% stake. Christodoulos Hadjistavris, a colleague at Wargaming, will take her place on the Hellenic Bank board once he receives the necessary regulatory approval. Finally, Ms. Pantelidou stated at the press conference that she would not sell shares to a Eurobank if she did not believe they would add additional value to the bank.

Wargaming invested EUR 127 million in Hellenic Bank. It invested EUR 40 million in November 2013, another EUR 63 million in November 2014, and EUR 24 million in March 2019.

[This article was translated from its Greek original]


Cyprus  |  banks  |  Hellenic

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