The National Bank (“NBG”) announced today that it has completed the divestment of 90.01% of the share capital of AEEGA “I ETHNIKI” (“National Insurance”) in CVC Capital Partners’ Fund VII (“CVC”) after receiving the legal required approvals by national and Union supervisory authorities.
The transaction includes the sale and transfer of all the shares of National Insurance owned by the Bank to the newly established subsidiary of CVC, Ethniki Holdings S.Ã .rl (“Buyer”) and the purchase by the Bank of 9.99% of the share capital of the Buyer , the EIB states in a relevant announcement.
The transaction has a positive impact of approximately 90 basis points on the Total Capital Index of 31.12.2021.
CVC Capital Partners is an investment company with offices in Europe, Asia and the Americas. The funds it manages are invested in more than 100 companies worldwide and employ over 450 thousand employees. CVC Funds have significant investment experience in insurance companies, but also in Greece, having invested over € 1.5 billion. in the country since 2017.
Morgan Stanley & Co. International plc and Goldman Sachs Bank Europe SE acted as financial advisors to the EIB for the transaction, while Freshfields Bruckhaus Deringer LLP and Karatza & Associates acted as legal advisers, and EY acted as an accounting and actuarial advisor.
Source: Capital
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