Piraeus Bank announced that it has entered into a long-term agreement with companies of the Blantyre Capital Limited group for the management of its non-core holdings for an initial period of 10 years.
The managed portfolio, with an initial circumference of 0.2 billion euros, consists of selected holdings not related to the wider financial sector and the main activity of Piraeus Bank.
As mentioned in the relevant announcement, the Transaction will allow Piraeus Bank to optimize the value of its non-core holdings, placing them under the specialized professional management of the Blantyre Capital group of companies.
The capital gain for the Piraeus Group from the transaction is estimated at approximately 0.7 percentage points compared to the total regulatory capital ratio of September 30, 2021. Houlihan Lokey and Octane acted as sole financial and commercial advisors respectively. Eversheds Sutherland and the law firm AB Law acted respectively as international and domestic legal advisors to Piraeus Bank.
Proskauer Rose and Dillon Eustace acted as international and Irish legal advisers to Blantyre Capital respectively.
It is noted that Blantyre Capital Limited is an investment management company based in London. Blantyre manages long-term committed investment funds of over € 1.6 billion on behalf of institutional investors, including public and private pension schemes, funds, foundations, private equity and family offices.
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