Ethniki Insurance deal is proceeding

National Bank of Greece and the Exin Group proceeded on Thursday with work toward submitting to the Bank of Greece a draft set of documents for the acquisition of NBG subsidiary Ethniki Insurance by Exin Financial Services Holding, paving the way for the implementation of the deal signed in June.

The agreement for the transfer of 75 percent of Greece’s biggest insurer to the Dutch-based company has a price of 718.3 million euros.

The aim of both sides is to have it completed by the end of the year, obtaining the final approvals by the BoG and the European Commission.