The sale of 51% of the share capital of NBG Pay S.A. was completed to EVO Payments Inc., for 158 million euros, after receiving the required supervisory approvals, as National Bank announced.
NBG previously contributed the payment acceptance business to NBG Pay through a spin-off. In addition, it is noted, a long-term exclusive commercial agreement was signed between NBG, NBG Pay and EVO.
According to NBG‘s announcement, this partnership is expected to create significant value from synergies that will arise through the combination of NBG’s large customer base and EVO’s technological expertise in payment services.
The transaction is expected to increase NBG’s pro forma Common Equity Tier 1 Capital Ratio as well as the Total Capital Ratio by approximately 60 basis points with a reference date of 30.09.2022.
EVO (NASDAQ: EVOP) is a leading provider of payment technologies and services with a presence in over 50 markets worldwide. It offers a range of innovative, reliable and secure payment solutions to merchants of all sizes, from small and medium businesses to multinational companies and organizations across the globe.
UBS Europe SE acted as the exclusive financial advisor to NBG and the law firm Karatzas and Associates acted as assistant legal advisors for the transaction. Octane Business Consultants advised NBG on licensing issues, while KPMG Advisors MAE acted as an advisor on accounting and tax issues. In addition, the NBG Board of Directors obtained an independent opinion from Barclays Bank PLC regarding the reasonableness and fairness of the offer price as well as independent legal advice from Freshfields Bruckhaus Deringer LLP.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Greek Transport Ministry Proposes New Road Traffic Code
The reforms give special consideration to vulnerable road users, including pedestrians, children, and cyclists. Adjustments to the code aim to protect these groups through targeted regulations for both their behavior and the responsibilities of other road users
ELSTAT: Unemployment in Greece at 9.6% in November
The number of employed individuals reached 4,286,466, marking an increase of 146,066 people (3.5%) compared to November 2023
Airbnb Demand in Greece Projected to Soar Again in 2025
Airbnb demand in Greece surges, with 2025 set to break records. Rising pre-bookings and expanded capacity boost the short-term rental market.
Winter Sales Season Kicks Off Early in Greece
The trend of early sales is fueled by the influence of major online retailers like Amazon and Asos, which have begun offering discounts ahead of Greek retailers, acting as a benchmark for price comparisons.
Electronic Payments Up in Eurozone, Including Greece, ECB Study Finds
Despite this trend, 50% of Greeks stated that they prefer cash as their primary payment method to electronic payments, the highest percentage among Eurozone countries
BoG Gov. Stournaras: Grexit Would Have Turned Us Into Syria
Asked about Ex-German chancellor Angela Merkel, central banker Stournaras said that 'in the end she played a very significant role in rescuing Greece'
Greeks Favor Card Payments When Traveling
More Greeks are opting for cashless transactions using cards for transport and accommodation before and during trips
Annual Road Tax Fees – Fines for Late Payers
Out of a total of 6.7 million vehicles, road tax payments were made on time for 5.9 million, representing 88%
Goldman Sachs Cautious for Greek Refineries in 2025
Despite more robust refining margins, Goldman Sachs anticipates several headwinds for Motor Oil and Helleniq Energy
Is Greece at Risk after Russian Natural Gas Suspension?
Europe will face a shortfall of 15 billion cubic meters of Russian natural gas, but Brussels says the EU is ready to meet its needs
![Μυτιληναίος: Στα 100 δισ. ο λογαριασμός από τη διακοπή του ρωσικού αερίου στην Ευρώπη [γράφημα]](https://www.ot.gr/wp-content/uploads/2024/07/240515105918_mytilineos-90x90.webp)
![Μυτιληναίος: Στα 100 δισ. ο λογαριασμός από τη διακοπή του ρωσικού αερίου στην Ευρώπη [γράφημα]](https://www.ot.gr/wp-content/uploads/2024/07/240515105918_mytilineos-600x395.webp)
