CMS Sofia has advised UniCredit Bulbank on the sale of a real estate-secured NPL portfolio to Debt Collection Agency, a subsidiary of the Norwegian financial services group B2Holding. The buyer was supported on the transaction by the Bulgarian office of Schoenherr.
According to CMS, the deal represents the largest real estate-secured NPL portfolio transfer in Bulgaria, with a total claim value of approximately EUR 249 million. The sale, which is part of UniCredit Group’s on-going strategy to reduce non-performing exposures, is the third of its kind by the bank in the last two years.
The CMS Sofia team was led by Managing Partner Gentscho Pavlov, supported by Partner Dimitar Zwiatkow, Senior Associate Maya Aleksandrova, and Associates Ivan Gergov and Desislava Anastasova.
Schoenherr’s team was led by Partner Ilko Stoyanov and Attorney at Law Elena Todorova.
