Tethys Project: The preferred investor for the sale of a loan portfolio comprising 72 hotels

Intrum Hellas A.E.D.A.D.P, servicer of loan and credit receivables held by the special purpose vehicles Sunrise I NPL Finance DAC, Sunrise II NPL Finance DAC and Vega II NPL Finance l DAC, is announcing in its capacity as sale coordinator the nomination of the Joint Venture SMERemediumCap/Latonia Enterprises Company Limited – Athanasios Laskaridis family office / WHG Europe Limited – Brown Hotels as the preferred investor for the sale of a loan portfolio comprising 72 hotels, with a legal claim of €254 million, held by the aforementioned special purpose vehicles (Tethys Project).

This is the first sector portfolio sale on the secondary market in Greece. It is noted that, apart from the financial offer, the key criterion for the selection of the Joint Venture SMERemediumCap/Latonia Enterprises Company Limited – Athanasios Laskaridis family office / WHG Europe Limited – Brown Hotels as the preferred investor was the expressed willingness to perform considerable investments to enhance the competitiveness of these hotel businesses so that they may be repositioned in the growing Greek tourism market.

The transaction is expected to be completed by the end of the year.