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Carige: negotiations with Sga regarding the NPLs

07 January, Reuters

The Carige special commissioners are currently negotiating with Sga, the company owned by the Treasury and managing bad loans, regarding the transfer of large part of the NPL and impaired loans portfolio amounting to 3.7 billion euro. The objective is to clean up the assets and make the bank more appealing for its sale.

The negotiations aim at defining the amount of NPLs on which Sga will have to focus its due diligence.

Other urgent actions might be the renegotiation with the FITD (the Italian deposit guarantee fund) of the voluntary scheme for the conversion of a bond worth 320 million. Moreover, the transfer of assets such as Banca Cesare Ponti and Banca Monte di Lucca is not to be excluded.

Source: Reuters

Translator: Cristina Ambrosi

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