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Our firm advises on the acquisition of the Project Tethys Portfolio.

Authors:

Nikos Fragos

View profile

Georgios Zervakis

Matina Xirogianni

HIGHLIGHT12 April 2023

March, 24th 2023

Our partner Nikos Fragos assisted by Georgios Zervakis and Matina Xirogianni acted for SMERemediumCap, Latonia Enterprises and WHG Europe Ltd on the joint acquisition of the Tethys Portfolio, the first hotel sectoral loan portfolio to be transacted on the secondary market, with a legal claim value of approx. EUR 255m. The Tethys portfolio perimeter, serviced by Intrum Hellas and offered by the special purpose entities Sunrise I NPL Finance DAC, Sunrise II NPL Finance DAC and Vega II NPL Finance l DAC, comprise of 72 hotel units with 4,000 beds that operate, among other regions, in the Cyclades, Dodecanese and Chalkidiki.