Davidson Kempner is determined to put together a strong bid for the acquisition of the Frontier project from National Bank (NBG), sending a strong message to the domestic NPL market that it is determined to play a leading role.
The proposals were discussed at the EU finance ministers’ video conference on Tuesday. Measures against bad loans as a result of the corona crisis are important for financial stability, said Finance Minister Olaf Scholz (SPD). He did not rule out a “significant increase” in NPLs.
The non-binding bids are expected to be submitted to the bank’s management in the first week of February, while the VDR will open by the end of the same month for investors who pass to the second phase of the tender.
For the government, the implementation of the new bankruptcy law by March 1 for businesses and June 1, 2021, for individuals is the big bet that will shape the outcome of the next post-memorandum evaluation of the country.
Deloitte is continuing the negotiations with Castlelake, the sole interested buyer, for the sale of a 52 million euro loan issued by National Bank (NBG) to Audio Visual owned by businessman Nikos Vardinogiannis.