Bank of Cyprus sells NPL portfolio and related collateral and facilities to Cerberus

10:16 - 16 January 2025

Financial Services Reporter

Bank of Cyprus is proceeding with the sale of a portfolio of non-performing loans and related collateral and facilities to Cerberus Capital Management LP, through Delta CAC Limited.

This action is based on a relevant merger notification received by the Commission for the Protection of Competition (CPC).

As stated in the CPC announcement, the target of this transaction is a portfolio of non-performing loans and facilities of Bank of Cyprus, which concerns loans granted in the past to commercial corporate borrowers and retail (residential) borrowers.

Cerberus Capital Management LP (CCM) is a limited liability company duly incorporated under the laws of Delaware, United States of America. CCM is an investment advisor registered with the US Securities and Exchange Commission and is engaged in investments in real estate and personal property.

Delta CAC Limited is a company duly registered under the laws of the Republic of Cyprus. Delta is a credit acquisition company established by CCM, for the purpose of acquiring a loan portfolio from Bank of Cyprus.

(Source: InBusinessNews)

Bank of Cyprus sells NPL portfolio and related collateral and facilities to Cerberus

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