ECONOMY

Process for concession of 20% of NBG goes on

Process for concession of 20% of NBG goes on

The proposal of the Hellenic Financial Stability Fund on the three nominations from which the disposal adviser for a package of shares of National Bank of Greece will be chosen is already in the hands of Finance Minister Christos Staikouras.

Kathimerini understands the three candidates are Goldman Sachs, J.P. Morgan and Bank of America, and the minister will recommend the most suitable one in order to run the process of selling the NBG share package in the context of the official expression of interest submitted by the Saudi Arabian sovereign wealth fund Public Investment Fund (PIF) for the acquisition of 20% of the lender.

The interest of PIF, which according to information has started due diligence at National, has taken on an exclusive character in discussions with the HFSF, which is committed until the end of November not to conduct corresponding discussions – at least officially – with another interested party.

The consultant to be selected will submit a valuation report to the HFSF and provide it with advisory support at all stages of the implementation of the transaction, if it proceeds.

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