White & Case LLP has advised Alpha Bank S.A. on the deal.
Alpha Bank S.A. entered into a binding agreement with Poseidon Financial Investor DAC, an entity financed by funds managed by affiliates of Fortress Investment Group LLC, for the disposal of a pool of Non-Performing Loans (NPLs) to Greek SMEs mainly secured by real estate assets (Project Neptune) for a total on-balance sheet gross book value of €1.1 billion.
Alpha Bank is the largest Greek bank by market capitalisation of €2.36bn and the fourth largest by total assets. It was founded in 1879 and has a subsidiary and branch in London, UK, as well as branches and subsidiaries throughout Southeastern Europe.
The White & Case team which advised Alpha Bank on the transaction was led by partner Debashis Dey (London & Dubai; Picture), with support from counsel Claudio Medeossi (London & Dubai) and associates Adam Gao and Greg Pospodinis (both Dubai).
Law Firms: White & Case;
Clients: Alpha Bank;