Exin Partners

Greece's National Bank (NBG) said on Thursday that a potential deal to sell a 75 percent stake of its wholly-owned insurance subsidiary to EXIN Financial Services Holding had expired a day earlier.

Greece's second-largest bank said March 28 was the "longstop date" for Netherlands-based EXIN to meet conditions in a purchase agreement signed in June 2017.

The board of Greece's National Bank (NBG) approved the sale of a majority stake in the group's wholly owned insurance subsidiary Ethniki to American-Dutch consortium Calamos-Exin, a banker close to the deal told Reuters on Tuesday.

NBG is selling the unit as part of a restructuring plan approved by the European Union to exit non-banking operations and focus on core banking.

Four investors submitted binding bids to acquire a majority stake in Greek lender National Bank's (NBG) insurance unit, a banking source close to the deal told Reuters on Tuesday.

Greece's second largest lender by assets is looking to sell its Ethniki Insurance subsidiary as part of a restructuring plan it has agreed with regulators to exit from non-banking operations.

Four investors submitted binding bids to acquire a majority stake in Greek lender National Bank's (NBG) insurance unit, a banking source close to the deal told Reuters on Tuesday.

Greece's second largest lender by assets is looking to sell its National Insurance subsidiary as part of a restructuring plan it has agreed with regulators to exit from non-banking operations.