Last Update: 15:32
Leonidas Fragkiadakis, NBG CEO commenting on the transaction said: "After almost 15 years of successful presence in Bulgaria, NBG divests from UBB and Interlease to deliver on its commitment to the shareholders and the European Authorities. The Transaction further strengthens NBG?s position in terms of capital and liquidity, allowing for the redeployment of resources to support the Greek economic recovery. I am pleased that the new owner of UBB, KBC, a strong and reliable counter-party, will continue to grow and develop the bank, in line with its strategy to become a leader in the Bulgarian market.?
Credit Suisse International acted as exclusive financial advisor to NBG. Freshfields Bruckhaus Deringer acted as international legal counsel and Boyanov & Co as local legal counsel to NBG.