BUSINESS

Alpha nears deal for bad-loan sale

TAGS: Banking

Alpha Bank is close to finalizing a deal to sell a portfolio of bad loans worth over 1 billion euros to US investment manager Fortress Group, three sources familiar with the matter told Reuters.

Alpha was initially looking to wrap up the sale of the portfolio, known as Neptune, in February, but final discussions had to be pushed back because of the health emergency.

“They are now close to the finishing line,” a source said. [Reuters]

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