Seeking Alpha

Goldman, Deutsche near purchase of NBG buyout unit

  • Goldman Sachs Asset Management (GS -1.3%) and DB Private Equity (DB -2.9%) are in talks to pay about $500M for NBGI Private Equity - the buyout arm of National Bank of Greece (NBG -2.7%), reports Bloomberg. That would be about one third less than the Greek lender originally invested in the business.
  • The P-E arm has underperformed competitors, according to data seen by Bloomberg, with 10 of its 11 funds projected to lose about 25 cents for every dollar invested. Its high-living CEO Pavlos Stellakis, along with the rest of the management team, is in negotiations to remain with the firm after the deal has been completed.
Comments (1)
  • vikramnjnjjdjnd
    , contributor
    Comments (1041) | Send Message
     
    Good opportunity to buy nbg!
    5 Aug 2014, 10:05 PM Reply Like
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