March 28, 2018 / 3:46 PM / in 9 months

Greece's NBG looking at all options on insurance arm sale, CFO says

ATHENS, March 28 (Reuters) - Greece’s National Bank is exploring all options on the sale of a majority stake in its wholly-owned insurance unit after a deal to sell the subsidiary to Netherlands-based investor Exin expired on Wednesday, the banks’s CFO said.

“We will consider all strategic options on National Insurance,” NBG’s CFO told ananlysts in a conference call.

The deal to sell National Insurance to U.S. and Dutch investors turned sour after a legal row erupted between the two buyers last month.

Calamos Investments and EXIN Partners had agreed to acquire 75 percent of the National Bank’s insurance unit for 718 million euros. (Reporting by George Georgiopoulos and Lefteris Papadimas)

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