The banking deal is coming - CVC froze Fairfax over Vivartia - Pressure on Piraeus to sell Attica Group - Alafouzos for Nova

Today we will focus on six topics capturing investment interest:

1. What became of BN's revelation regarding the banking deal?

2. CVC did not proceed with Fairfax over Vivartia

3. Pressure on Piraeus Bank to sell Attica Group

4. What is happening with GEK TERNA's stock?

5. Is there interest from Alafouzos to acquire Nova shares?

6. Why hasn't Kyriakou made a deal with the Arab fund, speaking with many but closing zero deals?

Answers

1) What became of the revelation by BN (bankingnews) that had recently previewed that something is coming?

BN had reported that the anchor shareholder of a major systemic bank plans to make a surprise move. It is a matter of very little time before something highly significant is announced regarding banking sector deals.

2) CVC froze negotiations with the Canadian fund Fairfax centered on Vivartia due to price.

It is recalled that the transaction concerned the acquisition of food service brands Goody's and Everest for 250 million euros, but the process froze because the buyer, Fairfax, and the seller, CVC, failed to reach an agreement on price. Some say CVC sells because it reaps high returns from deals, but in practice, the American fund CVC failed in its strategic planning in Greece, altering private equity investments.

3) There is information indicating that the SSM, the Single Supervisory Mechanism for banks, is pressuring Piraeus Bank to sell Attica Group along with Blue Star Ferries.

Goldman Sachs, which participated in the process, withdrew, and the main issue here as well is the price and the high risk inherent to the coastal shipping sector. Nothing interesting appears on the horizon, and Strix must reach decisions regarding maritime asset sales.

4) What is happening with GEK TERNA's stock?

GEK TERNA's stock has slipped from 48 euros to 39.36 euros, and evidently the 500 million euro bond issue failed to convince investors. The GEK TERNA group is extremely over-leveraged, a fact well known to banks, foreign investors, and the group's management. Sales of concession assets will become a one-way street, shaping corporate debt restructuring.

5) Is there interest from Alafouzos to acquire Nova shares?

Yes, the truth is that contacts exist between Alafouzos and the controlling shareholder of Nova, but white smoke has yet to emerge regarding telecom market acquisitions.

6) Why hasn't Kyriakou made a deal with the Arab fund, speaking with many but closing zero deals?

They have met with half of Athens and spoken with everyone, but one target displeases them, another they find overpriced. All this activity does not appear particularly serious, leaving ongoing investment fund negotiations stalled.

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