Discussions on the participation of EFG Eurobank Ergasias S.A. as a strategic investor in the share capital of LogicDIS S.A. were successfully concluded.
EFG Eurobank Ergasias' investment of approximately GRD 11bn will be realised through: A three-year convertible bond issue of GRD 4.45 bn with a 0.5 per cent coupon and a GRD 2,500 conversion price. In case of non-conversion, repayment of the loan will be made at 120 per cent of nominal value.A GRD 6.3 bn share capital increase at GRD 1,400 per share to be taken up by the strategic investor. EFG Eurobank Ergasias' participation in LogicDIS after the share-capital increase and the conversion of the convertible bond will amount to approximately 9 per cent on a fully diluted basis.
EFG Eurobank Ergasias and LogicDIS have launched a framework for close cooperation in strategic areas of action, as they had been defined and presented at the time of conclusion of initial discussions between the two sides. The main objectives of this strategic collaboration include the further growth and expansion of LogicDIS' business activities in Greece and abroad, as well as the provision of services to EFG Eurobank Ergasias in relation to IT projects.