Ryan Benedict, Jeff Lawlis, Giorgio Ignazzi, Frederick Gardner, Kristen Vredeveld, Jocelyn Noll
January 24, 2026
Latham & Watkins Advises on Full Divestment of Hellenic Financial Stability Fund’s Stake in Piraeus Financial Holdings S.A.
1 min
AI-made summary
- Latham & Watkins advised the underwriters on the Hellenic Financial Stability Fund's (HFSF) complete divestment of its stake in Piraeus Financial Holdings S.A
- via a fully marketed offering
- The transaction included a public offering in Greece and private placements to institutional investors internationally, raising approximately €1.35 billion
- This marks the largest secondary placement in Greece since 2005 and the first full HFSF divestment of Greek systemic bank stakes through such an offering.
Latham & Watkins has advised the underwriters on the full divestment by the Hellenic Financial Stability Fund (HFSF) of its stake in Piraeus Financial Holdings S.A. through a fully marketed offering, consisting of a public offering to retail and institutional investors in Greece and private placements to institutional investors outside of Greece, including the United States, raising gross proceeds of approximately €1.35 billion. This transaction is one of the largest capital markets privatization transactions in Europe since 2005, the largest secondary placement in Greece since 2005, and the first full divestment by the HFSF of its stakes in the Greek systemic banks through a fully marketed offering. The cross-border Latham team was led by partners Ryan Benedict and Jeff Lawlis, with counsel Giorgio Ignazzi, and associates Frederick Gardner and Kristen Vredeveld. Advice was also provided on tax matters by New York partner Jocelyn Noll.~~
Article Author
Ryan Benedict, Jeff Lawlis, Giorgio Ignazzi, Frederick Gardner, Kristen Vredeveld, Jocelyn Noll
The Sponsor