Alpha Bank SA on Wednesday announced that it has 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 to Greek SMEs mainly secured by real estate assets (the “Neptune Portfolio”), of a total on-balance sheet gross book value of 1.1 billion euros, with reference date 30.6.2019, ANA reports.
The aggregate consideration for the Neptune Portfolio amounts to 24 pct approximately of the total on-balance sheet gross book value and can be increased up to 30 pct of the total on-balance sheet gross book value through a contingent consideration (earnout).
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