Eurobank acquires remaining stake in Eurolife while National Bank of Greece eyes insurance deal

Eurobank has announced a definitive share purchase agreement to acquire the remaining 80% of Eurolife Life from companies controlled by Fairfax Financial Holdings Limited for approximately 813 million euros. Upon completion, Eurobank will hold 100% of Eurolife Life, while retaining 20% of its interest in Eurolife Holdings. Additionally, the bank confirmed it will sell a 45% stake in ERB Asfalistiki (Cyprus) for approximately 55 million euros, with contracts expected to be signed in the coming weeks. The transaction is subject to regulatory approvals and is anticipated to close in the third quarter of 2026. Deutsche Bank acted as financial advisor, while EY provided due diligence services, with Milbank LLP and PotamitisVekris acting as legal counsel. Separately, market reports indicate that the National Bank of Greece is nearing a deal with Allianz Greece, potentially involving a commercial partnership and the acquisition of a 30% minority stake. These discussions have not been officially confirmed, but market sources suggest the negotiations are maturing despite the absence of formal announcements during the recent general meeting.