Eurobank - Greek Bank With Value Investors On Board
- Prem Watsa and Ross Wilbur have announced activist investment in a Eurobank - fourth-largest bank in Greece - making further equity dilution very unlikely and indicating bottom of the cycle.
- This investment is very similar to the case of Bank of Ireland, where the same value-orientated investors with track record of business turnaround have tripled their money in 2.5 years.
- Eurobank’s financial performance is already showing material improvements over the last few quarters. With recession foretasted to end this year and involvement of activist investors the turnaround should speed up.