NAT. BANK OF GREECE SA
Agreement for the sale of minority shareholding in AGET Heracles
National Bank of Greece announces it has reached an agreement for the sale of its minority shareholding in AGET Heracles to majority shareholders Lafarge Group. Pursuant to this agreement, NBG will sell 18.480.899 shares, representing 26% of the share capital of AGET Heracles.
This sale is consistent with the stated strategy of the Bank to focus on its core banking activities and exit from its non-financial participations.
This development comes as the conclusion of the Bank''s efforts to dispose of its minority shareholding in Heracles, including identifying a strategic investor.
The sale price has been agreed at Euro 17.40 per share, or Euro 321.6m in total and is in line with the average closing price of the last 30 trading days, in which the stock recorded its six-year high. This agreed sale price exceeds by 13% the 12-month average of Heracles? stock.
This sale is consistent with the stated strategy of the Bank to focus on its core banking activities and exit from its non-financial participations.
This development comes as the conclusion of the Bank''s efforts to dispose of its minority shareholding in Heracles, including identifying a strategic investor.
The sale price has been agreed at Euro 17.40 per share, or Euro 321.6m in total and is in line with the average closing price of the last 30 trading days, in which the stock recorded its six-year high. This agreed sale price exceeds by 13% the 12-month average of Heracles? stock.