Announcement of international open competitive process for the joint exploitation of assets of the NBG Group and the HRADF at the "Mikro Kavouri" peninsula of Vouliagmeni.
The National Bank of Greece S.A. ("NBG") informs investors that, in agreement with the Hellenic Republic Asset Development Fund S.A. ("HRADF"), it launched today an international open competitive process for the identification of an investor, within the framework of a proposed joint exploitation of assets of the NBG Group and the HRADF at the "Mikro Kavouri" peninsula of Vouliagmeni (the "Process"). The said assets include a plot of land owned by "ASTIR Pallace Vouliagmenis S.A." ("Astir") and an adjacent plot of land of the National Tourism Organisation (NTO) that is to be exploited through the HRADF, in accordance with applicable legislation.
Upon eventual completion of the Process, it is expected that Astir will cease to be a subsidiary undertaking of NBG. The Process forms part of NBG's capital enhancement plan and reflects the overall strategic approach of NBG in connection with the disposal of non-core participations of the Group.
The text of the invitation for the expression of interest (in English), which relates to the current first phase of the Process, will be made available on NBG's corporate website (www.nbg.gr). Estimates concerning the rate of progress and the total duration of the Process can become possible at a future time.