Țuca Zbârcea & Asociații advises on the largest deal of non-performing assets on the Romanian market in 2022

Bank of Cyprus has recently concluded the sale of a corporate portfolio with a face value of around EUR 147 million to an entity part of the APS group.

The sale of a residual Romanian portfolio of non-performing assets held by the Cypriot group was made in the context of Bank of Cyprus' decision to wind down its operations in Romania, which was gradually implemented over the last years.

Țuca Zbârcea & Asociații acted on buyer's side, covering all the legal and financial aspects of the transaction with a team led by Partner Mihai Dudoiu together with Sergiu Negreanu (Managing Associate) and Sorina Ștefoni (Associate).

The transaction was signed in May 2022 and closed on August 24, 2022, after clearance by the Romanian Competition Council.

This is the largest deal of non-performing assets on the Romanian market in 2022.