June 27, 2017 / 2:08 PM / 2 months ago

Greek National Bank's board clears sale of insurance unit to Calamos-EXIN

ATHENS, June 27 (Reuters) - The board of Greece's National Bank (NBG) approved the sale of a majority stake in the group's wholly-owned insurance subsidiary to American-Dutch consortium Calamos-EXIN, a banker close to the deal told Reuters on Tuesday.

"The board gave its green light to the sale," the banker said.

NBG is selling the unit as part of a restructuring plan approved by the European Union to exit non-banking operations and focus on core banking.

U.S.-based Calamos Investments, which has $20 billion under management, and EXIN Partners, a Netherlands-based investor focused on insurance, reinsurance and asset management, were bidding for at least 75 percent of National Insurance. (Reporting by George Georgiopoulos)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below