White & Case Advises Alpha Bank on Acquisition of Full Ownership of Cepal

Global law firm White & Case LLP has advised Alpha Bank on the acquisition of Cepal, a Greek specialist loan servicing businesses, as part of Project Galaxy through which Alpha Bank will implement its NPE deleveraging acceleration plan.

Cepal will service the Galaxy securitizations, Alpha Bank's remaining NPEs as well as portfolios owned by international investors.

Alpha Bank is acquiring Cepal to facilitate the successful integration of its internal NPE servicing Units with Cepal's existing activities. As part of the transaction, Alpha Bank may subsequently dispose up to 100 percent of Cepal's shares to international investors, creating the largest and most scalable independent servicer in the Greek market. Cepal will continue to service its investor clients and originate new servicing business.

The White & Case team which advised on the transaction was led by partner Debashis Dey (Dubai & London) and included partner Hyder Jumabhoy (London), counsel Claudio Medeossi and associates Mohamed Hasan and Adam Gao (both Dubai).

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