15 November, City Wire
The offers for the bad loan portfolio of Banco Bpm concerning the Ace Project have arrived.
It was communicated by Luca Gualtieri from Milano Finanza, disclosing that the price is comprised between the 20% and 25% of the nominal value. The advisors for the operation are Deutsche Bank are Banca Akros. The binding offers will be presented during the meeting of the members on 29th November.
The competitors are the team formed by Texas Pacific Group, Christofferson Robb&Company, Davidson Kempner and Prelios (supported by Mediobanca), the doBank-Fortress-Illimity team and Credito Fondiario with Elliott.
The bidders considered three different amounts for the operation: the biggest amount is slightly over 8 billion, the smallest is 3.5 billion. If the bank guided by Giuseppe Castagna decides to sell most of the stock on the market, the sale of the platform as well will be very likely. On the contrary, if the sale concerns a smaller portfolio, the internal management platform will be still useful.
Source: City Wire
Translator: Cristina Ambrosi