Centerbridge Partners and Elliott Advisors’ €900 Million Acquisition of NPL Portfolio

White & Case advised Centerbridge Partners and Elliott Advisors UK Limited on the deal. Greek law firm ZeYa acted as a local legal counsel.

Centerbridge Partners, L.P. and Elliott Advisors UK Limited executed the acquisition of a €900 million portfolio of secured non-performing small business lending and SME loans secured by Greek real estate from the National Bank of Greece (NBG).

NBG completed the disposal of the portfolio to Symbol Investment NPLCO DAC, a company jointly owned by funds managed by Centerbridge Partners and Elliott Advisors. The consideration of the transaction is equivalent to approximately 28 percent of the principal amount of the portfolio and is capital accretive to NBG.

The White & Case team advising Centerbridge Partners and Elliott Advisors UK Limited was led by partners Debashis Dey (Dubai & London; Picture) and Jeffrey Rubinoff (London), and included counsel Claudio Medeossi (Dubai & London) and associates Lisa Seifman (London) and Greg Pospodinis and Adam Gao (both Dubai).

Involved fees earner: Debashis Dey – White & Case; Adam Gao – White & Case; Claudio Medeossi – White & Case; Greg Pospodinis – White & Case; Jeffrey Rubinoff – White & Case; Lisa Seifman – White & Case;

Law Firms: White & Case;

Clients: Centerbridge Partners; Elliott Advisors;

Author: Michael Patrini.