National Bank of Greece announces the completion of the sale of 51% of the share capital of NBG Pay S.A. to EVO Payments, Inc.

Following the relevant announcement on December 17th, 2021, National Bank of Greece (“NBG”) informs investors that, following the receipt of all required regulatory approvals, it has completed the sale of 51% of NBG Pay SA’s share capital to EVO Payments, Inc (“EVO”) for a consideration of €158 million. NBG Pay comprises NBG’s Merchant Acquiring Business following a spin-off. In addition, a long-term exclusive commercial agreement was signed between NBG, NBG Pay and EVO.

Significant value creation is expected from the synergies that the partnership will create from combining NBG’s wide client base with EVO’s technological expertise in the payments business. 
The transaction is capital accretive for NBG and is expected to increase the proforma CET1 and Total Capital Ratio of the Bank by c.60 bps as of 30.09.2022.

EVO (NASDAQ: EVOP) is a leading payment technology and services provider. EVO offers an array of innovative, reliable, and secure payment solutions to merchants ranging from small and mid-size enterprises to multinational companies and organizations across the globe. As a fully integrated merchant acquirer and payment processor in over 50 markets and 150 currencies worldwide, EVO provides competitive solutions that promote business growth, increase customer loyalty, and enhance data security in the international markets it serves.

UBS Europe SE acted as exclusive financial advisors to NBG, and Karatzas & Partners law firm were external legal counsel. Octane Management Consultants advised NBG on licensing issues, while KPMG Αdvisors SMSA advised NBG on accounting and tax matters. Barclays Bank PLC, acting through its Investment Bank, acted as Fairness Opinion provider to the BoD of NBG and Freshfields Bruckhaus Deringer LLP provided independent legal advice to the BoD.


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