The main shareholder of Epsilon Net, Ioannis Michos, who holds 55.42%, the National Bank of Greece with 7.5% and the General Atlantic Group are joining forces in order for the latter's subsidiary, Bidco, to seek to acquire the minority shares of the listed company.

A public offer will follow, seeking the delisting of the listed company. The intention of the main shareholder and founder, Ioannis Michos, is to retain his stake in the company.

Specifically, Epsilon Net announced that an agreement was signed on April 25, 2024, between General Atlantic Ginger BV, Ioannis Michos, the National Bank of Greece, and Ginger Digital BidCo Monopoly SA, (Bidco), pursuant to which, the parties have decided to act jointly to acquire through Bidco, all shares and voting rights of Epsilon Net not already held by them, by submitting a mandatory public offer.

It is noted that GA and Bidco do not directly and/or indirectly hold any shares or voting rights in Epsilon Net, the Founder directly holds 55.42% of the shares after voting rights of the company and NBG directly holds 7.50% of the shares after voting rights of the company.

After the agreement was signed, GA, through Bidco, the founder, Ioannis Mihos, and NBG are now considered to be coordinated parties under Article 2(e) of Law 3461/2006 and Article 10(a) of Law 3556/2007. This means that two of the coordinated parties directly own 34,100,000 shares, which is 62.92% of the company's total number of shares and voting rights.

Bidco is a wholly owned subsidiary of GA, which in turn is 100% controlled by General Atlantic Coöperatief UA. A number of private equity funds and organizations with headquarters in Luxembourg, Bermuda, and the United States control the latter.

Euroxx Stock Exchange S.A. is acting as adviser for the purposes of the Public Offer