The Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 of the Control of Concentrations between Enterprises Law of 2014, concerning the acquisition of the share capital of SKY CAC Ltd, by Cerberus Capital Management L.P., via Promontoria Sky Designated Activity Company.
Cerberus Capital Management L.P is an Investment Advisor, registered with the US Securities and Exchange Commission and a member of Cerberus, a global leader in alternative investing in assets across complementary credit, private equity, and real estate platforms.
Promontoria Sky Designated Activity Company is a special purpose company registered under the laws of Ireland, which was set up to implement the proposed acquisition. Promontoria Sky is a newly registered company and has no previous business activity or turnover.
SKY CAC Ltd is a company duly registered in accordance with the laws of the Republic of Cyprus. SKY CAC is a credit acquiring company established by Alpha International Holdings S.M.S.A. with the aim of acquiring a loan and real estate portfolio from Alpha Credit Acquisition Company and Alpha Bank Cyprus Ltd. SKY CAC is a newly established company and has no previous business activity or turnover in Cyprus or in any other jurisdiction.