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Fortress-doValue scheme has taken the lead for the mega deal with Eurobank

The Fortress-doValue scheme has reportedly taken the lead for the management of all of Eurobank’s non-performing exposures in Greece and the purchase of 80% of the FPS servicer, as well as part of the Cairo project mid-term bonds.

Yesterday, Eurobank board decided that two offers by U.S. funds group PIMCO and Italian bad loan specialist doValue, for its loan servicing unit FPS were satisfactory. The sources said that a final decision would be made after the Greek parliament approves government legislation on banks’ non-performing loans, known as the Hercules asset protection scheme.

Eurobank aims to complete the transaction in the first two months of 2020.

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