United Group B.V. completed the acquisition of 36% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. from Piraeus Bank S.A., National Bank of Greece S.A., Alpha Bank A.E. and Attica Bank S.A..
September 07, 2020
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United Group B.V. agreed to acquire 36% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) from Piraeus Bank S.A. (ATSE:TPEIR), National Bank of Greece S.A. (ATSE:ETE), Alpha Bank A.E. (ATSE:ALPHA) and Attica Bank S.A. (ATSE:TATT) on May 29, 2020. United Group B.V. will also, initially, acquire up to approximately 50% of the principal amount of the Convertible Bonds and all the Loan Receivables. Pursuant to the acquisition, Hellenic Company for Telecommunications and Telematic Applications will be joining United Group. The transaction will be subject to customary regulatory approvals, antitrust approval and standard conditions precedent. As of August 14, 2020, the European Commission approved the transaction. As of September 2, 2020, relevant regulatory conditions have been satisfied and the United Group will promptly proceed to the closing of the debt acquisition. Closing is expected to occur on or about September 8, 2020. Nomura Holdings, Inc. acted as financial advisor to Piraeus Bank S.A. (ATSE:TPEIR), National Bank of Greece S.A. (ATSE:ETE), Alpha Bank A.E. (ATSE:ALPHA) and Attica Bank S.A. (ATSE:TATT). Apostolos Gkoutzinis and Mark Stamp of Milbank LLP and Papapolitis & Papapolitis acted as legal advisors to United Group.
United Group B.V. completed the acquisition of 36% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) from Piraeus Bank S.A. (ATSE:TPEIR), National Bank of Greece S.A. (ATSE:ETE), Alpha Bank A.E. (ATSE:ALPHA) and Attica Bank S.A. (ATSE:TATT) on September 8, 2020
National Bank of Greece SA is a Greece-based company, which provides a range of financial services. Its financial services include retail and commercial banking, asset management, brokerage, investment banking, insurance and real estate at a global level. The Group operates in Greece, Turkey, the United Kingdom, South East Europe (SEE) which includes Bulgaria, Romania, Albania, Serbia and Former Yugoslavian Republic of Macedonia (FYROM), Cyprus, Malta, Egypt and South Africa. The Bank operates through the following business segments: Retail Banking, Corporate and Investment Banking, Special Asset Unit (SAU), Global Markets and Asset Management, Insurance, International Banking Operations, Turkish Banking Operations, as well as Other that includes real estate management, hotel and warehousing businesses.
United Group B.V. completed the acquisition of 36% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. from Piraeus Bank S.A., National Bank of Greece S.A., Alpha Bank A.E. and Attica Bank S.A..
NATIONAL BANK OF GREECE S.A. 
