Baker & McKenzie Advises Novapars Capital on its Acquisition of EUR115 Million Loan Portfolio
Deal Announcement
5 July 2011
Frankfurt, Germany / Amsterdam, Netherlands, July 5, 2011 – Baker & McKenzie advised the Dutch investor group Novapars Capital on the acquisition of the German loan portfolio of the Dutch DSB Bank. The loan portfolio with a nominal amount of EUR115 million comprises mortgage loans, car loans and civil servants loans. The German branch of DSB Bank was part of the transaction. The purchase price is undisclosed.
DSB filed for insolvency in 2009. Novapars Capital acquired the loan portfolio and the German branch of DSB Bank from the insolvency estate, financing part of the purchase price by means of a loan from the Dutch NIBC Bank.
Novapars Capital, founded just over a year ago, represents Dutch and German investors. Gerben Willems, co-founder and managing director of Novapars Capital commented, “I am pleased with the completion of our successful first transaction. We see a clear trend in the banking industry to sell loan portfolios and that it will be able to acquire additional portfolios in the years to come."
“Novapars Capital has succeeded in an auction process and with this success, they are in an excellent position for other portfolio transactions in the German market,” commented Baker & McKenzie Partner Dr. Matthias Eggert, lead counsel in the transaction.
Legal advisers of Novapars Capital:
Baker & McKenzie
Lead: Dr. Matthias Eggert (Partner, Frankfurt), Philippe Steffens (Partner, Amsterdam, both Banking & Finance); Hermann Huidink (Partner, Amsterdam, Tax)
Further attorneys involved in the Frankfurt/Dusseldorf offices: Dr. Florian Thamm (Partner, Dusseldorf, M&A/Real Estate), Ludwig Zesch (Associate, Frankfurt, Banking & Finance) Dr. Alexander Haines (Partner, Frankfurt), Dr. Holger Lutz (Associate, Frankfurt, both IT, IP, Data Protection), Dr. Thomas Koch, Dr. Deny-Jean Silny (both Associates, Corporate/M&A, Dusseldorf), Jochen Meyer-Burow (Partner, Frankfurt, Tax), Sandra Wittinghofer (Partner, Frankfurt, Bank Regulatory), Dr. Lena Kern (Associate, Frankfurt, Employment)
Further attorneys involved in the Amsterdam office: Maurits Tausk (Partner, Corporate/M&A), Gisela Wolf, Wendy Bogers (both Associates, both Banking & Finance), Casper Evers, Folkert Idsinga, Marnix Veldhuijzen (all Associates, all Tax) Robert van Agteren (Partner, Restructuring & Insolvency)