Conclusion of the sale of a leasing subsidiary, including an NPE portfolio (Sunshine Transaction) amounting to €0.5bn Gross Book Value
Following the announcement of the Sunshine Transaction dated 23.12.2022 and in reply to a
query by the Hellenic Capital Market Commission dated 05.09.2023 related to recent press
reports with respect to the Transaction, Piraeus Financial Holdings informs the investment
community of the following:
Piraeus Bank S.A. (“Piraeus” or the “Bank”), subsidiary of Piraeus Financial Holdings, has
concluded the sale of 100% of the Group’s leasing subsidiary Sunshine Leases Single Member
S.A. (“Sunshine Leases”), including a portfolio of leasing Non-Performing Exposures (NPE)
(“Sunshine Portfolio”), (the “Sunshine Transaction”), to Hellas Capital Leasing Single Member
S.A., a Greek leasing company wholly owned by funds managed or advised by Bain Capital.
The Sunshine Portfolio, already classified as held-for-sale, amounted to €0.5bn gross book
value as at 30.06.2023. The Transaction has been part of Piraeus Group’s focused and
systematic actions, targeted to fulfil its NPE de-risking plan.
The financial impact of the Sunshine Transaction has been reflected in the 30 June 2023
financial position of Piraeus Financial Holdings.
Athens, 05 September 2023