Greece will appoint three foreign international banks as financial advisers to carry out due diligence and make recommendations about privatizations of state-controlled banks, the Finance Ministry said Thursday.

The three advisers are Deutsche Bank AG (DB), Lazard Ltd. (LAZ) and HSBC Holdings PLC (HBC), confirming what sources told Dow Jones Newswires Wednesday.

"The interministerial committee for asset restructuring and privatization decided to appoint international financial advisers to explore and assess the Greek state's strategic options to value its holdings in the banking sector and assess the consequences of such options, especially for the efficiency and stability of the financial sector," the ministry said in statement.

-By Nick Skrekas, Dow Jones Newswires; +30 210 2830685; nick.skrekas@dowjones.com

 
 
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