January 2021 – Kinstellar is delighted to have advised Austrian KA Finanz AG, as the legal owner, on the sale of a Greek municipal loan portfolio to Piraeus Bank SA. KA Finanz AG is the wind up entity of Kommunalkredit Austria AG, a bank focused on infrastructure and energy, which was nationalised and re-privatised during the past decade and which originated the loans.
The transaction involved English, Austrian, and Greek law, and due to legal and other considerations, physically took place across multiple jurisdictions, including Greece, Austria, Serbia, the UK, and the US.
The transaction was led by Denise R Hamer, Head of C/SEE Asset Solutions, with the support of Branislav Marić, Managing Partner of the Belgrade office, and Senior Associate Tijana Arsenijević.