Qquant to manage 'Earth' portfolio loans

Qualco's Greek subsidiary Qquant is according to sources undertaking the management of the bad-loan portfolio of 5.2 billion euros that National Bank of Greece is selling to the consortium of Sweden's Intrum and US firm CarVal.

This concerns the "Earth" portfolio, which is the biggest bad-loan package to be put up for sale to date by a Greek bank. Sources say the deal for the transfer to the consortium is in its final stage and is expected to be signed by the end of the month.

The agreement with two of the biggest private equity funds in NPL management is accompanied by an agreement for the concession of their management that Kathimerini understands will go to Qquant.

The Intrum-CarVal consortium tabled the highest offer that sources put at 110 million euros, representing 5.5 percent of the value of the loans transferred. That bid exceeded those tabled by Czech...