The announcement said that Wargaming sold 49,213,490 ordinary shares to an unspecified buyer, but remains the second biggest investor after New York-based fund Third Point.

Local investment fund Demetra is the third largest, while the European Bank of Reconstruction and Development (EBRD) recently acquired a 5.38% stake by purchasing Hellenic’s outstanding stock for €20 mln.

The EBRD is already a 5% investor in Bank of Cyprus having pumped in €120 mln last year.

On the other hand, BOCY’s vice chairman Wilbur Ross has bought 6,363,050 of the lender’s share via the WLR Recovery Fund V.L.P., at a cost of 16.62 cents a share, the bank disclosed in stock exchange filing.

The billionaire investors is probably averaging up his stake, having pumped in €400 mln of his own money and that of clients last year at 24 cents a share, for a 19% control.

The Ross purchase will only improve the Vice Chairman’s personal stake by 0.1 percentage point, still below the 5% benchmark.

Source: Financial Mirror