November 8th, 2017

CVC enters into a binding agreement to acquire IASO General Hospital

On November the 6th, CVC Capital Partners announced the signing of a binding agreement to acquire private hospital IASO GENERAL through Hellenic Healthcare Sarl, an entity controlled by funds advised by CVC. The transaction is subject to customary terms and conditions including due diligence and approvals.

May 17th, 2016

Alpha Bank, Eurobank and KKR reach agreement to support Greek companies

Alpha Bank, Eurobank & KKR have agreed to assist Greek companies through assigning to Pillarstone's platform the management of credit and equity exposures towards them.

March 3rd, 2016

Romania's BCR returns to profit - reverses NPL provisions

According to news site Romania-Insider.com, BCR Romania's largest bank and subsidiary of Austrian group Erste, recorded a net profit of EUR 206 million in 2015.

In 2014, the bank had net losses of EUR 630 million, due to high write-offs related to non-performing loans totaling almost EUR 1 billion.

January 21st, 2016

Romania's BCR to sell EUR 1bn of NPLs

According to Romanian business site BnE IntelliNews, Romania's BCR (Erste Group) shall continue to sell non-performing loans (NPL) in the amount of over €1bn. According to the site, bundles of NPLs sold by BCR can include loans from BCR's portfolio both on its balance sheet and also transferred to the group's entities abroad.

December 29th, 2015

Greek Deputy Finance Minister Charitsis: EU funds of € 8 bln to be channeled into the Greek market in 2016 

More than 8 billion euros will be channeled into the Greek market in 2016 through the Public Investments Program (PIP) and international organizations such as the European Investment Bank, the European Bank for Reconstruction and Development (EBRD) and more, deputy minister for NSRF issues Alexis Charitsis said in an interview with a Greek newspaper published on Sunday.

November 17th, 2015

Greek banks AQR results came out better than "feared" by EU officials

The four systemic Greek banks’ AQR and stress tests were recently released by ECB. Total assets of close to €300bn were placed under ECB’s stress tests. The resulting total capital shortfall reached €14.4bn under the adverse scenario. This amount is considered lower than the one “originally feared” by some EU officials. It is worth noting that Eurobank and Alpha have already covered their capital shortfall via share capital increases.

September 1st, 2015

Tourism developments drive real estate investments in Greece despite recent capital controls crisis

The Greek Real Estate Market is showing signs of activity mainly driven by tourism investment. While privatizations of Astir Vouliagmeni and the Ellinikon real estate project have been delayed for many months, private investors progress opportunities in high end tourism segment on the back of a 20% growth for second consecutive year in incoming visitors.

 May 26th, 2015

Greek Banks' balance sheet clean-up starts with hotel assets

Greek Banks are continuing with sales of problematic and repossesed hotel properties.  Piraeus Bank is in the process of selling a portfolio of hotel property NPLs valued at approx. EUR 250 million. In addition, two iconic Athens hotels (Athens Ledra Marriott and Pentelikon) are being auctioned by Alpha Bank following debt service problems.

March 26th, 2015

Greek listed companies divest subsidiaries and assets to improve liquidity and reduce debt

Greek listed companies mostly active in problematic sectors (coastal shipping, fish-farms, capital goods), which face structural problems as well as high debt, have discretely proceeded to sell international subs and real estate assets during 2014.

December 28th 2014

Piraeus Bank – KKR announce €1,2 bil. securitization deal.

Piraeus Bank recently announced that it has agreed with the investment firm KKR to transfer (to an SVP) and securitize a portfolio of assets of €1,2 bil. (this amount refers to Piraeus' corporate exposure, i.e. both loans and equity participation in MIG) to a new structure managed and/or controlled by KKR Credit and serviced by Piraeus.

Sigma Catalyst Partners

5 Valaoritou Str. Athens - Chalandri 15232 - GREECE
Tel.: +30 210 68 52 411, Fax: 211 017 33 88
office[at]sigmacatalyst.gr

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