CR Partners has acted as local counsel to National Bank of Greece S.A. on the February 2, 2018 sale of NBG's entire stake in its Albanian subsidiary, Banka NBG Albania Sh.A. to American Bank of Investments SHA. Freshfields Bruckhaus Deringer served as international counsel to MBG on the sale, while Kerameus & Partners advised ABI.
According to a press release from the National Bank of Greece, the transaction -- which remains subject to customary regulatory and other approvals, including from the Bank of Albania and Albanian Competition Authority -- "is being implemented in the context of NBG’s Restructuring Plan and in-line with its commitments towards European Commission’s DG Competition."
NBG Albania started operating in Albania in 1996 as the Tirana Branch of NBG. In 2012, it became a fully-licensed, independent bank, operating as a 100%-owned subsidiary of NBG. American Bank of Investments SA is a wholly-owned subsidiary of Tranzit Sh.p.k, an Albanian non-banking financial institution focused on providing flexible financing options to companies and individuals. ABI is licensed to perform credit and deposit activities and payment services in Albania and abroad as well as other banking activities.
The CR Partners team was led by Partner Anisa Rrumbullaku.
The Freshfields team was led by Corporate Partner Sebastian Lawson, with support from Senior Associate Anthony Walker, Associate Samuel Joynson, and Trainee Christopher Simpson. IP/IT and separation advice was provided by Associates Michael Evans and Tom Hingley.
The Kerameus & Partners team consisted of Partner Dimitri Kerameus and Associate Katerina Orfanidi.