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NBG enters into a definitive agreement for the disposal of its 99.91% stake in its Bulgarian arm

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NBG announced that it entered into a definitive agreement with KBC for the sale of its 99.91% stake in UBB (Greek lender’s Bulgarian subsidiary) and its 100% stake in Interlease E.A.D, for a total consideration of €610m.

 

As per the same announcement, before the closing of the transaction, UBB intends to make a €50m dividend distribution to NBG, following approval of its AGM.

 

The closing of the transaction is subject to regulatory approval from the Bulgarian National Bank and the Bulgarian Financial Supervision Commission, authorisation by the National Bank of Belgium / the ECB and anti-trust approval.

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