CMS Advises Zagrebačka banka d.d/UniCredit on NPL Sale in Croatia

09/06/2017

Zagrebačka banka d.d, a member of UniCredit Group, has entered into a transaction to sell non-performing loan portfolios to a company controlled by APS Holding a.s. International teams at CMS in Austria and Croatia supported the transaction.

The transaction that covers fully impaired and partially impaired loans granted to corporate and private individual customers was signed on 19 May 2017 upon having obtained a positive opinion by the Croatian National Bank under applicable rules pertaining to the disposal of materially significant portfolios and closed at the end of May.

Zagrebačka banka d.d/UniCredit was advised by an international CMS team. A core team in Vienna headed by Alexander Rakosi (partner, corporate/M&A) collaborated with the local team in Croatia. Lisa Oberlechner (attorney-at-law, corporate/M&A), Anna Wieser (attorney-at-law, corporate/M&A) and Marie-Christine Lidl (associate, corporate) made up the core team in Vienna and Jelena Nushol (partner, banking & finance) handled all aspects of the transaction with respect to Croatian law.

CMS had previously advised members of the UniCredit Group on disposal processes in Slovenia and Bulgaria, in which its subsidiaries UniCredit Banka Slovenia and UniCredit Bulbank (Bulgaria) sold non-performing-loan portfolios to affiliates of the Norwegian B2Holding Group. The transaction in Slovenia was closed in December 2016, the one in Bulgaria in January 2017.

“We are very pleased to have been supporting UniCredit on this initiative across multiple jurisdictions”, says Alexander Rakosi.

A picture of Alexander Rakosi is available for free download here.

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CMS Advises Zagrebačka banka d.d/UniCredit on NPL Sale in Croatia
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