Kyriakides Georgopoulos Law Firm is proud to have acted as a Greek law counsel to the Hellenic Financial Stability Fund in a milestone transaction for the Greek NPL market, contemplating a long-term strategic partnership between Piraeus Bank and Intrum and the establishment of a leading credit management servicer in Greece following the hive-down of the Business Recovery Unit of Piraeus Bank and its contribution to the new servicer.
KG Law Firm as Greek law counsel together with Freshfields Bruckhaus Deringer, acting as English law counsel and NatWest Markets as financial advisor and Société Générale as process advisor to the Fund, supported the Fund, in its institutional role as well as its capacity as the major shareholder, throughout the entire transaction in reviewing the overall process and transaction agreements, assessing the legal risks and finally providing its consent under the specific law pertaining to the operation of the Fund.
Following the granting of the Hellenic Financial Stability Fund’s consent and receipt of the other required regulatory approvals, the transaction was formally concluded on 23 October 2019.
KG Law Firm through its expertise and highly skilled team is looking forward to contributing to the restructuring of the Greek NPL market and the implementation of landmark transactions.
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