| Our firm has advised Eurobank Ergasias S.A. with regards to the sale to doValue S.p.A. of 80% of the share capital of its subsidiary Eurobank Financial Planning Services, arguably the largest NPE Servicer in Greece. The transaction was successfully completed in early June 2020 and entailed, among others, the assignment of the exclusive 14-year servicing of Eurobank’s € 5.7 billion future early arrears and € 5.6 billion non-performing exposures, and the related shareholders arrangement governing the parties’ ongoing strategic relationship as shareholders of FPS.
This deal, one of the three legs of a landmark transaction involving also the sale by securitisation of two NPL portfolios (Project Cairo and Pillar), is a market first M&A transaction for NPE Servicers in Greece. |
