National Bank of Greece, the country's largest lender, on Friday signed an agreement to sell-off 99.91 percent of its subsidiary in Bulgaria, United Bulgarian Bank A.D. (UBB), to Belgium-based KBC.
The deal also includes the sale of Interlease EAD.
According to an announcement by NBG, the agreement is worth 610 million euros.
Under terms of the contract, UBB will pay a dividend to NBG of 50 million euros, upon approval by its general assembly of shareholders.
