Banking Law News

Pimco, Cerved Shortlisted for Greece’s Alpha Bank Bad-Loan Sale

Sept. 2, 2020, 10:01 AM

Pacific Investment Management Co. and Cerved Group SpA are on Alpha Bank’s shortlist for the sale of 10.8 billion euros ($12.8 billion) in bad loans, the biggest such sale to date in Greece, a person familiar with the matter said.

Elliott-backed Credito Fondiario SpA and Davidson Kempner Capital Management are the other two shortlisted investors and the lender is aiming to choose one of the four suitors in early October and sign a deal by the end of the year, the person said, asking not to be named as the information isn’t public. The sale, dubbed the Galaxy Project,...

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