ECONOMY

NBG sells stakes in funds to DB, Goldman Sachs

nbg-sells-stakes-in-funds-to-db-goldman-sachs

National Bank of Greece said on Tuesday it had agreed to sell stakes held directly or indirectly in 11 funds to Deutsche Bank Private Equity and Goldman Sachs Asset Management for 288 million euros.

The transaction was expected to be concluded in the first semester of 2016, subject to regulatory approval, the bank said in a stock exchange filing.

The management responsibility of the funds and underlying investments would continue to be performed by the current management team along with others persons appointed by the buyers, under a new management vehicle created for that purpose, National Bank said.

[Reuters]