NBG announced the sale of 66% of Pangaea REIC at current valuations to the private equity fund, Invel Real Estate, for a total consideration of €653 mn.
The transaction is structured as follows: cash payment of €161 mn by Invel, contribution by Invel to a share capital increase to be carried out by Pangaea of property in Italy worth €73 mn and financing by NBG (vendor financing) of the remaining amount of the consideration.
NBG announced the sale of 66% of Pangaea REIC at current valuations to the private equity fund, Invel Real Estate, for a total consideration of €653 mn. The transaction is…