UK real estate investment firm Invel Real Estate intends to buy a 32.6 percent stake in Greek peer NBG Pangaea Real Estate Investment Co.
Invel will buy the stake from banking and financial services company National Bank of Greece for about 400 million euros ($454.4 million).
Invel is expected to exercise its right to buy National Bank's stake in NBG Pangaea, with the active participation of Invel’s shareholders, that is, Castlelake and Coller Capital.
Following the completion of the deal, expected at the end of the month, Invel will control 98 percent of NBG’s share capital.