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National Bank of Greece extends shareholder agreement with INVEL Group

National Bank of Greece SA and INVEL Group extended the shareholders' agreement between them by three months beginning from the end of December 2018 to the end of March.

The amendment implies a corresponding extension of INVEL Group's call option of shares owned by NBG at the weighted average price of NBG Pangaea REIC in the last quarter of 2018 and certain other conditions.

NBG also denied media reports about NBG retaining control of Pangaea if it owns over 20% of Pangaea's stock and about the amendment of the call option price on the shares owned by the central bank.