Reference is made to the stock exchange release by B2Holding ASA at 13 March 2018 disclosing that B2Holding has entered into an agreement with Alpha Bank S.A. in Greece to purchase a non-performing portfolio of approximately 315.000 retail unsecured loans with a Face Value of EUR 3.7 billion at a price of EUR 90 million.
The B2Holding Group has today signed agreements with Waterfall Asset Management ("Waterfall") and the European Bank for Reconstruction and Development ("EBRD") for a co-investment structure for this portfolio. The daily servicing of the portfolio will remain with B2Kapital S.A. and local licensed partners. As a result of the transaction B2Holding will have a minority share in the portfolio.
"The co-investment structure is an important milestone in the development of the Greek subsidiary B2Kapital S.A. and confirms B2Holding Group's interest in acquiring portfolios in the Greek market. The co-investment structure is positioning us for further growth and development in Greece while simultaneously broadening our asset base and increasing revenues from third party collection business", says Olav Dalen Zahl, CEO of B2Holding ASA.
For enquiries regarding the transaction, please contact:
Olav Dalen Zahl CEO,
B2Holding ASA
Telephone: +47 909 86 386
Email: odz@b2holding.no
