Announced
Financials
Tags
Acquisition
Friendly
Diversified Financials
financial sercives
Greece
Pending
Single Bidder
Majority
Cross Border
Private Equity
Private
Synopsis
Investment firm Davidson Kempner agreed to acquire an 80% stake in Cepal, the loan servicing unit of Alpha Bank, the second largest Greek bank by total assets. Financial terms were not disclosed. "We are excited to enter into a long-term agreement for Project Galaxy with Davidson Kempner, a highly experienced US investor. This is a turning point for our Bank as we are making a decisive step in dealing conclusively with the legacy asset quality issues from the long-lasting recession in Greece," Vassilios Psaltis, Alpha Bank CEO.
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