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Fortress declared preferred investor for Alpha Bank’s Neptune NPL portfolio
Fortress has emerged as a preferred investor for Alpha Bank’ s portfolio of corporate NPLs with real estate collateral (project Neptune).
At the last phase of the tender, Fortress and Bain had been asked to submit improved bids. Fortress’s bid was considered better in terms of price and payment and the investor is now expected to enter a period of exclusive negotiations with Alpha Bank.
Meanwhile, the portfolio has undergone changes since the beginning of the tender, both in terms of size and kind. After the changes and the addition of high-quality requirements, the price is estimated to reach €450 million. This price exceeds 25% of the outstanding capital.
Original Source: BusinessNews
Translation/Adaptation: Kiki Athanasiadis