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National Bank of Greece eyes sale of UK-based NBGI Private Equity

30 Jan 2014

greek greece flagGreece’s national bank is reportedly eyeing the sale of its London-based buyout unit NBGI Private Equity in an attempt to raise capital.

National Bank of Greece has hired Cogent Partners to help with the divestment according to Bloomberg, which cited two people with knowledge of the matter.

The bank was bailed out by the Greek Government to the tune of €8.5bn, putting the bank into 84 per cent public ownership.

NBGI PE lost its UK head in August 13 years after he helped found the business.

Earlier in the year it revealed it was increasing its strategic focus around the three core sectors of support services, healthcare and food manufacturing.

The firm hired former Rentokil Initial senior executive Sandy Young as its first advisor and food and drinks industry veteran Tim Kelly as the second member of a panel in the summer.

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