October 4, 2018 / 2:53 PM / 8 months ago

ANNOUNCEMENT-NBG completes sale of South African Bank of Athens

Oct 4 - National Bank of Greece S.A. (“NBG”) announces the completion of the sale of its 99.83% stake in South African Bank of Athens (“SABA”) to GroCapital Holdings Limited (a consortium consisting of Afgri Holdings Proprietary Limited, Fairfax Financial Holdings Limited and Public Investment Corporation SOC Limited) following receipt of the required regulatory approvals from i) the South African Reserve Bank, ii) the South African Ministry of Finance and iii) the South African Competition Authority and Competition Tribunal. The successful completion of the transaction, which has taken place in the context of NBG’s Restructuring Plan, increases NBG’s H1 2018 CET1 Ratio by 7 bps. Investec Bank Limited acted as exclusive financial advisor to NBG, while Freshfields Bruckhaus Deringer LLP and Edward Nathan Sonnenbergs Incorporated acted as international and local legal counsels respectively to NBG.

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