National Bank eyes Heracles sale

National Bank eyes Heracles sale
Published: 09 November 2004

The National Bank, Greece’s largest bank, plans to offload its minority stake in cement maker Heracles by the year end in a bid to cut non-core activities, a senior bank official said on Tuesday. "From a business point of view there is no sense for the bank to maintain such holdings," Yiannis Pechlivanidis, National Bank deputy governor, told financial daily To Kerdos in an interview. National Bank owns around 26.4 per cent of Heracles, with the stake valued at about Euro160m at current prices.