Greece's Eurobank to buy 37 pct of Serbian state-owned bank NSB

ATHENS (AFX) - Eurobank is close to buying 37 pct of Serbia's Nacionalna Stedionica Banka (NSB) from the Serbian state, giving it full control of the bank for an undisclosed amount, according to several unsourced Greek press reports.

The reports said an agreement with the local government could take place within the next thirty days.

Eurobank already holds a 62.3 pct stake in NSB for which it paid 44.4 mln eur. In September last year, the Serbian government turned down its public offer to buy-out minorities.

Eurobank has invested about 50 mln eur for another subsidiary in Serbia, EFG Eurobank Beograd, which in conjunction with NSB operates a network of about 70 branches with a market share estimated at 6 pct.

This entry was posted by rodoyf, on Thursday, March 09, 2006. You can leave your response.