Bank of Cyprus is selling NPL and related collateral portfolio to Cerberus Capital Management L.P

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.

Read More

President Christodoulides to be received by Keir Starmer at Downing Street
Leadership and Innovation at the 15th Limassol Economic Forum
MED9 delegates welcome re-establishment of EC portfolio dedicated to the Mediterranean (pics)
Coordinated effort to boost primary sector's GDP contribution, President says
RIF Director General holds meetings in the context of the STS Forum in Kyoto
Two bills to tackle undeclared work, Labour Minister tells Youth Parliament
We aim to strengthen wage adequacy to address rising costs, says Labour Ministry
President goes to New York prepared and optimistic for a positive outcome
AEL Limassol B.C. honours payabl. with award for Outstanding Contribution
House President praises Beijing Foreign Studies University contribution to diplomacy