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Invel RE to acquire 32,6% of NBG Pangaea REIC

On May 16th NBG will announce the preferred investor for the Symbol Project. The sell-out of the bank’s affiliates in Romania and Cyprus is soon to be completed.

NBG in Greece is speeding up its restructuring process. According to safe information, Invel Real Estate is about to acquire 32,66% of Pangaea REIC for €390,8m.

Meanwhile, on May 14th, the bank is going to announce the preferred investor for the Symbol project, among the two bidders: Fortress and Elliott-Centerbridge joint venture.

Within the next three weeks the bank will also announce its voluntary redundancy programme. It is expected that through this programme approximately 750 employees will leave the bank.


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