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Athens Macedonian News Agency: News in English, 17-06-02
CONTENTS
[01] NBG discusses sale of insurance arm; no announcements today
[01] NBG discusses sale of insurance arm; no announcements today
A meeting of National Bank of Greece's (NBG) board to discuss the sale
of the lender's insurance arm concluded on Friday, but no official
announcements will be made today, according to sources.
After the decision, the bank will continue with exclusive negotiations
with the preferred buyer in order to sign the agreement for the sale of
National Insurance within a few days.
The signing of the deal will end a process that started at the beginning
of May, continued with the bidding phase at the start of April and has
now left two prevailing candidates. The candidates were asked by NBG to
submit improved offers and the final bid has been substantially increased.
NGB will sell a minimum share of 75 percent of National Insurance while
the book value that National Bank has recorded in its books is around
650 million euros.
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