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Intrum: Tethys portfolio of 72 hotels pass to the SMER, Laskaridis and Brown scheme

Intrum Hellas is expected to submit a proposal to the bondholders of the securitisation for the sale of the Tethys portfolio. The preferred investor is the joint venture of the SMER fund of Nikos Karamouzis, a company of shipowner Thanasis Laskaridis and the Israeli group Brown. The completion of the transaction is expected to take place within the next 3 months.

The portfolio consists of 72 hotels with loan exposures in the area of 250 million euros. The hotels are 5-star and 4-star, located in Mykonos, Crete, Koufonissi, Kos, Naxos, Chalkidiki, but also in mainland Greece.

This is the first hotel portfolio that came out in the Greek market and the submission of binding offers by strong industry groups proves the high value of hotel services given the particular growth of Greek tourism.

The preferred investor will reform the hotel units.

Original Source: Euro2day.gr

Adaptation/Summary: Kiki Athanasiadis