Distressed debt specialist APS announced the acquisition of a portfolio of Romanian related Non-Performing loans and repossessed properties with a total contractual value of EUR 147 mln from Bank of Cyprus Group.

The sale of this portfolio is in line with the Bank of Cyprus’ strategy for deleveraging non-core assets and achieving sustainable and profitable medium to long-term growth.

The transaction will close after receiving the antitrust clearance from the Romanian Competition Council.

“This transaction has strengthened our position on the Romanian market as the largest distressed debt investor and manager. With the newly launched APS Credit Fund, our strategy is to keep growing by exploring unique investment opportunities and purchasing new portfolios,” Martin Machoň, CEO and owner of APS, said.

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andrei@romania-insider.com