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Notification of a concentration concerning the acquisition from Pacific Investment Management Company LLC (PIMPCO) of a Hellenic Bank investment package that includes the share capital of Kohira Holdings Ltd which will hold a MED portfolio, the share capital of APS Debt Servicing Cyprus Ltd and bonds, via Oxalis Holdings S.a.r.l
21/11/2023


The Service of 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 from Pacific Investment Management Company LLC (PIMPCO) via Oxalis Holdings S.a.r.l. of a Hellenic Bank investment package that includes the share capital of Kohira Holdings Ltd which will hold a MED portfolio, the share capital of APS Debt Servicing Cyprus Ltd and bonds.

Oxalis Holdings S.a.r.l. is a company duly registered under the laws of the Grand Duchy of Luxembourg. Oxalis Holdings S.a.r.l. is an investment vehicle, which is controlled by Pacific Investment Management Company LLC (PIMCO).

PIMCO is a global investment management company which focuses on active fixed income management and provides services to specialized institutions, financial intermediaries and institutional investors.

The target of this merger is an investment package of Hellenic Bank that includes the share capital of Kohira Holdings Ltd which will hold a MED portfolio ("Starlight Portfolio"), the share capital of APS Debt Servicing Cyprus Ltd and some bonds.

Kohira Holdings Ltd is a private limited liability company that is a duly registered company in accordance with the laws of the Republic of Cyprus. In order to transfer the Starlight Portfolio to Kohira Holdings Ltd, it is required that the company is approved as a Credit Acquisition Company in accordance with the provisions of the Law on the Purchase and Sale of Credit Facilities of 2015 (169 (I) / 2015). When the Starlight Portfolio is transferred from Hellenic Bank to Kohira Holdings Ltd, Kohira Holdings Ltd will also be licensed as a "non-credit institution" in accordance with its provisions on Consumer Credit Agreements in relation to Real Estate Intended for Residence Law of 2017 ( 41 (I) / 2017).

APS Debt Servicing Cyprus Limited is a private limited liability company duly registered in accordance with the laws of the Republic of Cyprus. APS Debt Servicing Cyprus Limited operates in the sector of real estate management acquired by credit institutions through enforcement or repayment of mortgage lending, management. It is also active in the recovery of non-performing loans provided by creditors or other credit institutions with overdue claims and related ancillary debts.







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