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Illimity: two NPL transactions in this month, the Banco Bpm operation is unlikely to conclude this year
07 September, Reuters
It’s unlikely that the transfer of the management platform and the NPL portfolio by Banco Bpm will be completed by this year, while the binding offers are expected between the end of October and the beginning of November.
Such was the comment of Corrado Passera, Spaxs Ceo, during the Ambrosetti forum in Cernobbio. As of 20th September, Spaxs will become Illimity, a business combination with Banca Interprovinciale and will also be working with non-performing loans and unlikely-to-pay.
“The binding offers are expected by the end of October and the beginning of November. We’re taking part with Fortress and doBank. It’s unlike the operation will conclude by the end of the year”, said Passera about the Banco Bpm operation.
One month ago, Passera stated that Spaxs is not interested in Banco Bpm management platform, which might be for sale, and that the offer from its team concerns rather the servicing platform of the bank guided by Giuseppe Castagna.
The manager also said that Illimity has already finalised two NPL operations for a gross amount of some hundreds of million euro and a net amount of some tens of million euro which “will be booked this month”.
He also added: “there are also UTP operations in the pipeline”.
Source: Reuters
Translator: Cristina Ambrosi