National Bank names advisers to Finansbank's public offering
15. November 2010. | 08:12
National Bank of Greece announced a group of banks which will act as advisers to the transaction, which it is expected to be one of the biggest of its kind in Turkey.
National Bank of Greece, following the successful completion of a share capital increase plan, worth 1.8 billion euros, and in the framework of preparations for a public offering of a minority stake up to 20 pct in Finansbank, on Thursday announced a group of banks which will act as advisers to the transaction, which it is expected to be one of the biggest of its kind in Turkey.
The group consists of Credit Suisse, Deutsche Bank AG, Morgan Stanley, BofA Merrill Lynch, Goldman Sachs International and HSBS, which will act as publishers and main underwriters of the issue. Credit Suisse, Deutsche Bank AG and Morgan Stanley will also act as international coordinators.
National Bank said it would announce further details in due time. However, the bank’s intention is that a public offer for Finansbank, which would include the issuing of new and the sale of existing shares, to be completed as soon as market conditions allow it.
Following the sale, National Bank of Greece will maintain a majority stake of at least 75 pct in Finansbank.