B2Kapital Cyprus, the Cypriot subsidiary of B2Holding ASA, has entered into an agreement to acquire a non-performing portfolio of non-retail secured- and unsecured loans in Cyprus. The portfolio is part of Hellenic Bank's non-core asset reduction programme in line with the European Central Bank and International Monetary Fund guidelines. The portfolio has a face value of EUR 145 million comprising of 1,158 borrowers and 1,977 individual claims. The completion of the transaction is subject to completion of required procedures under relevant legislation, obtaining applicable approvals and clearance from relevant regulatory authorities. The transaction is expected to be closed by the end of first quarter 2018. Through this agreement, B2Holding has further strengthened its position as a leading Pan-European debt purchaser. By establishing a new Cypriot operation, B2Holding confirms its intention to become an active player in the Cypriot NPL market. The strategic significance implies disclosure of this transaction. The portfolio acquisition itself would normally be below the threshold for portfolio announcement. Disclosing this transaction is also transparent with Vendor's announcement. For enquiries regarding the transaction, please contact: Olav Dalen Zahl CEO, B2Holding ASA Mobile: +47 909 86 386 Email: odz@b2holding.no
