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Economy

Alpha Bank Declares Davidson Kempner the Preferred Bidder for Project Galaxy

November 23, 2020

ATHENS — Alpha Bank Group on Monday announced that its Board of Directors, at a meeting on November 20, assessed the binding offers submitted in the context of the bidding process for the Galaxy NPL Securitisation Transaction and the sale of up to 100 pct of the shares of Cepal Hellas Financial Services Single Member SA – Servicing of Receivables from Loans and Credits (“Project Galaxy”) and declared Davidson Kempner European Partners LLP the preferred bidder.

In an announcement, the bank said that, together with its financial and legal advisors, it will embark on a negotiation with Davidson Kempner aiming at a finalisation of the agreement on Project Galaxy by the end of the year and, pursuant to all applicable laws and its policies, will inform investors promptly on its decisions regarding the said transaction.

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