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Bank of Cyprus is selling NPL and related collateral portfolio to Cerberus Capital Management L.P
15:56 - 27 September 2024
The Bank of Cyprus is proceeding with the sale of a portfolio of non-performing loans and related collateral to Cerberus Capital Management L.P., through Delta CAC Limited - a special purpose company established for this transaction - according to a relevant announcement by the Commission for the Protection of Competition (CPC) and the relevant merger notification it received.
According to the announcement, the portfolio concerns loans granted in the past to commercial corporate borrowers and retail (residential) borrowers.
Cerberus Capital Management, L.P. is an American global alternative investment firm with assets across credit, private equity, and real estate strategies. The firm is based in New York City, and run by Steve Feinberg, who co-founded Cerberus in 1992, with William L. Richter, who serves as a senior managing director.
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