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Merger of Cepal and Resolute in the Greek real estate management market

Cepal Hellas and Resolute Asset Management announced the merger of their activities in the Greek real estate management market.

The consortium, called Resolute Kaican Greece S.A. (“RKG”) will provide consulting services and manage real estate for a wide range of clients such as banks, claims managers, private equity and institutional investors, companies and institutions of the Greek government. In addition, the consortium will provide services to existing clients of Resolute in Greece, such as banks and investors and real estate included in the portfolio managed by Cepal Hellas for a total of €28 bn.

RKG will use Resolute’s specialized real estate expertise, the innovative technology provided by its subsidiary Resolute, Recognyte, as well as Cepal’s high-tech electronic platform and experience in managing NPEs. In addition, Reinvest Greece, a real estate management company will have an important role in the joint venture, the majority of which will be transferred from Resolute to RKG.

The consortium will focus on the management, enhancement of the value and utilization of REOs granular real estate portfolios, asset management and value creation for large commercial real estate, real estate collateral management, analysis and advisory support for real estate from portfolios of both performing and non-performing loans.
The dynamics of the consortium are not only enhanced by the innovative technological approaches developed by the participants in their broader international activities, but also by the unique size of portfolios under management for the Greek market.

The agreement is expected to be completed by the end of 2022 and is subject to a merger authorisation.

UBS Europe SE acted as exclusive financial advisor to Cepal, PWC as tax advisor and Potamitis Vekris as legal advisor to Cepal. KPMG and INTERPATH acted as financial advisors to Resolute and Norton Rose Fulbright as legal advisors respectively.

Original source: BusinessDaily.gr

Adaptation/Summary: Kiki Athanasiadis

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