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NPLs

White & Case Advises Alpha Bank on Disposal of Mixed Pool of SME NPLs Secured by Real Estate Assets

Global law firm White & Case LLP has advised Alpha Bank S.A. on 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 (NPLs) to Greek SMEs mainly secured by real estate assets (Project Neptune) for a total on-balance sheet gross book value of €1.1 billion. 

"Alpha Bank's disposal of the Neptune portfolio is another positive and proactive step to reduce its balance sheet exposure to NPLs, and to improve its capital and liquidity position," said White & Case partner Debashis Dey, who led the Firm's deal team. "This is the second NPL-related transaction on which we have advised Alpha Bank in the past 12 months." 

The White & Case team which advised on the transaction was led by partner Debashis Dey (London & Dubai), with support from counsel Claudio Medeossi (London & Dubai) and associates Adam Gao and Greg Pospodinis (both Dubai). 

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