(Visited 76 times, 1 visits today)
(Visited 76 times, 1 visits today)

Mps is ready to sell UTPs for 500 million

22 February, Finanza Report

Mps is accelerating its de-risking process. The bank is preparing two new operations to dispose of its unlikely-to-pay loans for a nominal value of 500 million.

According to Milano Finanza, Mps is meant to put on the market the first portfolio in the next week, while the other one will be sold in March.

Mps has carried out UTP single name operations so far in order to maximise the value. The management headed by Marco Morelli, however, decided to speed up with the de-risking activity. By the end of the year, the bank will have sold a UTP stock amounting to 2 billion of nominal value.

Concerning the potential buyers, it’s likely that they will be the same that participated in the latest operations. Among the players, there are the teams composed of Aurora Recovery Capital-Gwm and Frontis-Algebris that acquired the portfolio named Alpha2 for 420 million euro at the beginning of the year. The American groups Fortress and Cerberus as well as the fund Bain Capital Credit might also take part in the competition.

Meanwhile, the Mps stocks registered a +0.66% at 1.2915 euro on the Milan Stock Exchange.

Source: Finanza Report

Translator: Cristina Ambrosi

(Visited 76 times, 1 visits today)

Read more:
Florence: goodbye theatre. It will be replaced by luxury homes

28 September, La Nazione Goodbye to the theatre, the balcony, the orchestra and the vast scenic arch. The former city...

Close