ATHENS, June 2 Greece's National Bank (NBG)
, the country's second-largest lender, is expected to
pick a buyer for a majority stake in its wholly owned insurance
unit National Insurance by the end of next week, sources close
to the process said on Friday.
NBG is selling at least 75 percent of the subsidiary as part
of a restructuring plan approved by the European Union which
will leave it to focus on banking.
The sale was initially expected to be completed this week.
"The bank's board convened on Friday, the sale procedure is
progressing well but there are some remaining issues that need
to be sorted out," one of the sources said.
The bidders for National Insurance include U.S.-Dutch
consortium Calamos-EXIN and Chinese groups Fosun <0656.HK.,
Shanghai-based Gongbao and Wintime.
(Reporting by George Georgiopoulos; Editing by Greg Mahlich)