Karatzas and Partners Law Firm

Karatzas & Partners Law Firm advised Piraeus Bank on a long-term strategic partnership with Intrum establishing a market-leading servicer of non-performing assets in Greece valued at €410mn

Piraeus Bank S.A. has entered into a strategic partnership with Intrum for the management of Non Performing Exposures (“NPE”) and Real Estate Owned Assets (“REOs”) through the establishment of a market-leading independent non-performing assets servicing platform in Greece.

The agreement values the platform at €410mn. Total purchase price for Ιntrum’s acquisition of 80% of the platform has been agreed at €328mn. Piraeus and Intrum aim for Transaction closing on 1 October 2019.