ATHENS, April 4 (Reuters) - Four investors submitted binding
offers to acquire a majority stake in Greek lender National
Bank's (NBG) insurance unit National Insurance, a
banking source close to the deal told Reuters on Tuesday.
NBG, Greece's second largest lender by assets is looking to
sell its National Insurance subsidiary as part of a
restructuring plan it has agreed with regulators to exit from
non-banking operations and focus on core banking.
"Four binding offers were submitted," the banker said. "The
aim is to sell at least a 75 percent stake in the unit."
The bidders were Chinese conglomerate Fosun, Shanghai-based
Gongbao and Wintime and John Calamos-Exin Partners, the banker
said, without providing further details.
Goldman Sachs and Morgan Stanley are advising NBG on the
(Reporting by George Georgiopoulos)