×

Greece's NBG offers to buy Eurobank via share swap

ATHENS, Oct 5 (Reuters) - Greece's largest lender National Bank said on Friday it offered to buy 100 percent of rival Eurobank via a share swap to form the country's largest bank.

NBG offred 58 new shares for every 100 shares of Eurobank. Once completed current NBG shareholders would hold 75 percent in the entity with Eurobank shareholders owning the rest.

"Eurobank shareholders representing 43.6 percent of its share capital have pledged to take part in the public offer," the statement said.

(Reporting by George Georgiopoulos)

((george.georgiopoulos@thomsonreuters.com; +30210 337 6437; Reuters Messaging: george.georgiopoulos.thomsonreuters.com@reuters.net))

Keywords: GREECE NBG/