Goldman Sachs and Deutsche Bank for NBG buyout

Privaty-equity arms of Goldman Sachs Group Inc and Deutsche Bank AG were near clinching a deal to purchase the buyout unit of the National Bank of Greece SA (NBG), said Bloomberg yesterday.

Goldman Sachs Asset Management and DB Private Equity were negotiating with one of Greece’s big four banks to buy NBGI Private Equity Ltd for approximately $506 million.

No final decision had been made, however an NBG spokesman told Bloomberg that the bank was in the last stages of clinching a deal. NBG is a majority owned by Greece’s bank rescue fund HFSF. The bank is selling assets to boost capital before European stress tests.