{"id":3527,"date":"2025-02-10T08:50:18","date_gmt":"2025-02-10T08:50:18","guid":{"rendered":"https:\/\/in-greece.com\/index.php\/2025\/02\/10\/high-profits-for-cvc-from-ethniki-sale\/"},"modified":"2025-02-10T08:50:18","modified_gmt":"2025-02-10T08:50:18","slug":"high-profits-for-cvc-from-ethniki-sale","status":"publish","type":"post","link":"https:\/\/in-greece.com\/index.php\/2025\/02\/10\/high-profits-for-cvc-from-ethniki-sale\/","title":{"rendered":"High profits for CVC from Ethniki sale"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"post-1261119\">\n    <!-- .entry-header --><\/p>\n<div class=\"first-img article_thumbnail_wrapper\" itemscope=\"\" itemprop=\"associatedMedia\" itemtype=\"http:\/\/schema.org\/ImageObject\">\n                                                                    <picture><source media=\"(max-width: 767px)\" srcset=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/01\/ethniki_insurance_3_web--2-320x200.jpg?v=1611925499\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"600\" class=\"picture-main-block-image\" data-nxsrc=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/01\/ethniki_insurance_3_web--2.jpg?v=1611925499\" alt=\"High profits for CVC from Ethniki sale\" src=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/01\/ethniki_insurance_3_web--2.jpg?v=1611925499\"\/><br \/>\n                        <\/source><\/picture>\n                                                        <\/div>\n<div class=\"entry-content\" itemprop=\"articleBody\">\n<p>CVC Capital Partners is divesting from Ethniki Insurance with a return of almost 100%, valuing the insurer at 670 million euros, against \u20ac505 million it was valued at when it was acquired from National Bank.<\/p>\n<p>Last week it became official that CVC Capital Partners is in exclusive talks with Piraeus Bank for the concession of 70% of Ethniki for \u20ac469 million.<\/p>\n<p>The almost double return is not only a result of the higher valuation: It is mainly a consequence of the conditions that were set in the agreement with National Bank regarding the achievement of the goals of the 2022-26 business plan that had been agreed upon, specifically regarding the result from the sale of bancassurance products, the losses that existed in the old health portfolio, as well as the amount of \u20ac130.5 million that CVC received in the form of a return of capital in the two years 2022-23.<\/p>\n<p>Given that most of these conditions, such as achieving specific profitability targets for bancassurance products, have not been met and that the old health insurance portfolio is accumulating serious losses \u2013 in 2023 it recorded losses of \u20ac85 million \u2013 the fund has eventually paid only part of the agreed price.<\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<\/div>\n<p><script>\n        var NXFBPixelFunc = function () {\n            document.removeEventListener(\"scroll\", NXFBPixelFunc);\n            setTimeout(function () {\n                !function (f, b, e, v, n, t, s) {\n                    if (f.fbq) return;\n                    n = f.fbq = function () {\n                        n.callMethod ?\n                            n.callMethod.apply(n, arguments) : n.queue.push(arguments)\n                    };\n                    if (!f._fbq) f._fbq = n;\n                    n.push = n;\n                    n.loaded = !0;\n                    n.version = '2.0';\n                    n.queue = [];\n                    t = b.createElement(e);\n                    t.async = !0;\n                    t.src = v;\n                    s = b.getElementsByTagName(e)[0];\n                    s.parentNode.insertBefore(t, s)\n                }(window, document, 'script',\n                    'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n                fbq('init', '109138906120213');\n                fbq('track', 'PageView');\n            }, 0)\n        };\n        document.addEventListener(\"scroll\", NXFBPixelFunc);\n    <\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/www.ekathimerini.com\/economy\/1261119\/high-profits-for-cvc-from-ethniki-sale\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CVC Capital Partners is divesting from Ethniki Insurance with a return of almost 100%, valuing the insurer at 670 million euros, against \u20ac505 million it was valued at when it was acquired from National Bank. Last week it became official that CVC Capital Partners is in exclusive talks with Piraeus Bank for the concession of &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"High profits for CVC from Ethniki sale\" class=\"read-more button\" href=\"https:\/\/in-greece.com\/index.php\/2025\/02\/10\/high-profits-for-cvc-from-ethniki-sale\/#more-3527\" aria-label=\"Read more about High profits for CVC from Ethniki sale\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":3528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"fifu_image_url":"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/01\/ethniki_insurance_3_web--2.jpg?v=1611925499","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-3527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts\/3527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/comments?post=3527"}],"version-history":[{"count":0,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts\/3527\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/media\/3528"}],"wp:attachment":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/media?parent=3527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/categories?post=3527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/tags?post=3527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}