Pursuant to the process for the acquisition of a majority participation in the share capital of Astir Palace Vouliagmeni S.A. ('Astir'), National Bank of Greece S.A. ('NBG') announces that on 17 September 2014 the Sale and Purchase Agreement for the abovementioned transaction was executed between NBG, the Hellenic Republic Asset Development Fund S.A. ('HRADF') in their capacity as sellers, Apollo Investment HoldCo in its capacity as the buyer, and Jermyn Street Real Estate Fund IV L.P. in its capacity as Guarantor. Apollo Investment HoldCo is an SPV, 100% owned by Jermyn Street Real Estate Fund IV L.P.
The transaction is expected to be completed post the fulfilment of the relevant conditions precedent. These include, among others, the issuance and publication of the applicable Special Public Real Estate Area Development Plan in the Government Gazette.
NBG will inform the investor community of any developments.