Euronext aims to make the Athens Stock Exchange a key hub for Southeast Europe, while the transaction – the acquisition of the Greek stock exchange by the European platform – is expected to be earnings-accretive from the first year, according to Euronext CEO Stéphane Boujnah. At the same time, he speaks highly of the Greek economy, describing its “impressive progress.”
Euronext CEO: Athens Stock Exchange to become key hub for Southeast Europe – acquisition details
Specifically, on Thursday afternoon (31/7), Mr. Boujnah held a conference call with journalists from around the world, announcing his company’s results. The majority of his presentation, as well as the questions that followed, were naturally dedicated to the Athens Stock Exchange acquisition, the proposal for which had been announced earlier that day.
According to highly reliable APE-MPE sources, Mr. Boujnah stated that the decision to acquire the Athens Stock Exchange “represents a transaction that significantly strengthens Euronext, upgrades our strategic prospects and opens new paths for future growth.” At the same time, he said, it offers substantial and lasting benefits to the Greek market, “which will be integrated even more dynamically into European and global capital flows.”
“Impressive progress” of the Greek economy
During the presentation, the Euronext chief repeatedly referred to what he characterized as the impressive progress of the Greek economy, while revealing that “Euronext aims to make the Athens Stock Exchange the key hub for Southeast Europe.”
As Mr. Boujnah specifically noted, “over the past four years, the Athens Stock Exchange has benefited from a favorable macroeconomic environment, thanks to the continued recovery of the Greek economy. Between 2020 and 2024, the Athens Stock Exchange’s net revenues increased by over 70% to €52 million, while EBITDA tripled to €23.7 million.” He added that “the Greek economy is expected to continue significantly strengthening the stock exchange’s activity, supporting sustained transparency in asset valuation and increasing the international attractiveness of the Greek market.”
According to the same APE-MPE sources, the Euronext chief told journalists that “with ATHEX’s integration into Europe’s largest liquidity pool, Greek issuers and investors will gain much greater visibility and access. At the same time, ATHEX will benefit from participating in Europe’s leading IPO network, creating sustainable benefits for trading volume.”
Finally, he expressed confidence that “the transaction is expected to be earnings-accretive from the first year, following the implementation of initial synergies. Our goal is to achieve annual cash synergies of €12 million by the end of 2028, with restructuring costs of approximately €25 million.”
Source: APE-MPE
