APS Holding a.s. agreed to acquire 51% stake in Non-Performing Loan and Real Estate Management Business from Hellenic Bank Public Company Limited (CSE:HB) on January 10, 2017. The assets will be controlled jointly by Hellenic Bank holding a 49% stake. APS Cyprus' management will consist of Hellenic Bank’s staff, including its Chief Executive Officer, Kiki Papadopoulou. About 160 employees of the Arrears Management Division of the Bank will move to APS Cyprus. The completion of the transaction is subject to applicable approvals and clearances from the relevant regulatory and any other authorities and is expected to be closed by the end of the first quarter of 2017. George Z. Georgiou & Associates LLC and Antis Triantafyllides and Sons LLC acted as legal advisors to Hellenic Bank. JŠK/PONTES and Antoniou McCollum & Co acted as legal advisors to APS. Alantra acted as financial adviser and Clifford Chance acted as legal advisor. Carlos Portocarrero, Emma Matebalavu, Andrés Berral, Laura Anne Smith, Jorge Martín-Fernández and Isabel Palacios of Clifford Chance LLP acted as legal advisor to Hellenic Bank Public Company Limited.