Lawyer Monthly Magazine - August 2019 Edition

103 AUG 2019 | WWW.LAWYER-MONTHLY.COM Transactions reports This announcement appears as a matter of record only Attica Bank SA Securitization of Non-Performing Loans Legal advisers to Attica Bank SA: Attica Bank SA’s Securitization of Non-Performing Loans Milbank, Tweed, Hadley & McCloy LLP and Bahas, Gramatidis & Partners, advised Attica Bank SA (“Attica bank”), the major Greek non-systemic lender, in the sale of a junior note in the principal amount of €339,375,000, issued (together with a senior-tranche note) by a Luxembourg SPV in consideration for Attica bank’s securitised portfolio of non-performing loans (“NPLs”) of approximately €700 million. The transaction consisted of i) a sale and purchase agreement entered into by Attica bank and PIMCO (acting through the Luxembourg based fund TOCU Europe II Sarl); ii) the drafting of a servicing agreement to be entered into by ABS Metexelixis SA and QQuant Master Servicer SA, a Greek company licensed to manage non-performing exposures by the Bank of Greece; and iii) a series of amendments to the existing securitisation documentation, including, among other, re-tranching of the existing senior and junior notes and issuance of a mezzanine note to comply with European accounting de-recognition regulations. In this transaction, Rothschild acted as advisor to the Bank. Milbank and Bahas, Gramatidis & Partners acted as legal advisors to the Bank. The completion of this ground-breaking transaction with challenging and complex issues, which benefits the Bank and its shareholders, helps Attica Bank reduce its credit risk exposure and strengthen its capital basis in order to proceed to its next business movements. This announcement appears as a matter of record only ArchiMed Acquires In Vitro Diagnostics Legal adviser to ArchiMed: Financial adviser ArchiMed: Strategy due diligence: Legal adviser to Diesse’s founders: ArchiMed Acquires In Vitro Diagnostics ArchiMed announces the purchase of Diesse Diagnostica Senese SpA (‘Diesse’) by Duomodiag Sarl, a holding company backed by ArchiMed through its MED II fund, with bank finance provided by leading Italian banks MPS Capital Services and BPER. The transaction was completed on May 2019. Diesse is an Italian developer of innovative in vitro diagnostic (‘IVD’) systems for the diagnosis of infectious and autoimmune diseases, and hematology systems to test for inflammation. The company was founded in Siena in 1980 by a group of Tuscan research scientists and generated more than €22 million of revenues in 2018 from more than 100 countries. Diesse employs some 150 people. Diesse was acquired from its founders and from Orphée SA, the Swiss subsidiary of Warsaw listed diagnostics group PZ Cormay SA. goetzpartners supported ArchiMed as exclusive strategic advisor in the purchase of Diesse Diagnostica Senese S.p.A.