BUSINESS

Wilbur Ross backs American-Dutch bid for Ethniki Insurance

TAGS: Business

The US commerce secretary has backed a bid by an American-Dutch consortium to buy the insurance arm of Greece’s National Bank, Ethniki Insurance, saying a deal could help US investment flows to the troubled Mediterranean country.

Secretary Wilbur Ross wrote a letter to Greek Prime Minister Alexis Tsipras that called for a transparent sale, a senior banker told Reuters.

“It is a strong letter,” he said. “The secretary is fully supportive of the Calamos-EXIN bid, saying it would be a good start towards improving US investment flows to Greece,” said the banker, who asked not to be identified.

[Reuters]

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