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Exin MOPF : Management of Portfolio Foundation Exam

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Test Number : MOPF
Test Name : Management of Portfolio Foundation
Vendor Name : Exin
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Exin of information source

Greece's NBG consents to sell coverage subsidiary to CVC Capital: sources | MOPF cheat sheet and PDF Download

ATHENS (Reuters) - national bank (NBG), one of Greece’s four greatest lenders, has agreed to sell its coverage unit to inner most equity neighborhood CVC Capital, two banking sources close to the technique noted on Friday.

“there's settlement to sell a ninety% stake in national insurance to CVC Capital,” some of the bankers informed Reuters, declining to be named. “There might be bulletins on the deal later on Friday.”

inner most fairness neighborhood CVC Capital, with $109 billion of assets beneath administration, become the best bidder for NBG’s entirely-owned coverage unit and submitted a binding bid one year in the past.

The sources didn't show the rate of the transaction.

Reuters pronounced final month that NBG had achieved talks to sell the coverage subsidiary to CVC Capital and that the financial institution’s administration and board of administrators backed the sale.

The divestment is part of NBG’s european-authorized restructuring plan to shed non-core belongings. The financial institution has sold belongings in the Balkans, together with operations in Bulgaria, Albania and Romania, and Turkey, downsizing to center of attention on its core domestic banking company.

NBG, forty% owned through the Hellenic monetary stability Fund (HFSF), Greece’s bank rescue fund, turned into as a result of hold a board assembly afterward Friday forward of a scheduled full-12 months 2020 salary announcement.

HFSF, which has sought the advice of Morgan Stanley and Deloitte on the deal, also backs the sale, the different banker stated.

HFSF become no longer immediately obtainable for comment. countrywide financial institution declined to comment.

NBG had tried unsuccessfully to sell the coverage unit in outdated years. In 2018 it ended talks with Shanghai-based Gongbao neighborhood to divest a majority stake in country wide assurance.

before that, a deal to promote seventy five% of the unit to U.S. fund supervisor Calamos Investments and EXIN partners for 718 million euros ($871.seventy two million) turned bitter after a felony row erupted between both buyers.

Reporting by George Georgiopoulos; editing via Susan Fenton


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