CYPRUS: Elements concludes purchase of receivables over €45 mln

Istrabenz is a strategic holding company, with its shares listed on the Ljubljana Stock Exchange since 1997. The core activity of the holding is investment management (strategic and portfolio). The purchased amount of claims represents approximately 34 percent of Istrabenz’s overall restructured financial debt.

“Thanks to the excellent working relationship we enjoy with York Capital, we have been able to conclude a very important deal that represents another important step for Elements Capital Partners in the building of its investment portfolio in South East Europe”, said Savvas Liasis, Partner and Member of the Board of Directors. “The purchase of receivables from Istrabenz will enable us to expand our expertise into the fields of tourism and energy, two sectors also crucial to the Cypriot economy into which we are looking to expand in the near future.”