Euronext, the leading pan-European market infrastructure, has secured a controlling 74.25% stake in the Athens Stock Exchange (ATHEX), finalizing a deal to integrate the Greek market into Europe’s largest exchange infrastructure group.
This move by Euronext, headquartered in Paris, underscores its strong confidence in Greece’s economic resurgence and the potential for deeper integration of Greek capital markets into the broader Eurozone and European Union financial landscape.
The voluntary share-exchange tender offer concluded November 17, with shareholders tendering nearly 43 million shares, far exceeding the 50% threshold required. Euronext confirmed that all regulatory conditions were met earlier this week.
Greece becomes part of integrated European network
Euronext CEO Stéphane Boujnah called the acquisition a “major milestone” for the European financial ecosystem. “With ATHEX joining Euronext, Greece becomes part of an integrated European network connecting local economies to global markets,” Boujnah said.
The group expects to generate €12 million ($13.8 million) in annual cash synergies by the end of 2028, primarily by migrating ATHEX to Euronext’s Optiq trading platform. Boujnah also confirmed plans to establish a new technology and support center in Athens to tap into local talent.
The acquisition expands Euronext’s footprint into Southeastern Europe, adding Athens to a network that already includes Paris, Amsterdam, Milan, and Dublin. Settlement is scheduled for November 24, when former ATHEX shareholders will receive their Euronext shares. The new consideration shares will begin trading on Euronext’s main market the same day.
Related: Athens Stock Exchange Earns “Developed Market” Status From FTSE Russell
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