The National Bank of Greece's buyout arm acquirement by Deutsche Bank AG (DBK) and Goldman Sachs Group Inc. (GS) is reaching its finalization stage, according to two knowledgable individuals, and reported by Bloomberg.
DB Private Equity and Goldman Sachs Asset Management are in negotations to offer NBG approximately $506 million dollars for NBGI Private Equity Limited. This figure is roughly one-third less than the original investment by the Bank.
It was reported that the NBGI management team, whom is directed by CEO and Chairman Pavlos Stellakis, is in discussions to continue working in the London branch, after the purchase is conducted.
Athenian based NBG spokesman Dimitris Spyropoulos described yesterday, "We're in the final stage, but there hasn't been any decision". Deutsche Bank and Goldman Sachs spokesmen did not offer statements.
In prior Bloomberg reports, it was stated that CEO and Chairman Stellakis gained a $3.8 million dollar bonus in 2009, marking the same year that NBG received its first state rescue aid.