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NPL: Cerberus acquired 57% of Officine CST (credit management)

06 July, Reuters

The alternative investment group Cerberus Capital Management reached an agreement for the acquisition of 57% of Officine CST, a company providing credit management services to public administration.

As the memo reads, Officine CST “provides integrated credit management services to big clients – such as banks, institutional investors, utilities and multinationals – as well as to small and medium companies”.

Officine CST manages credits for over 16 billion euro and employs 150 people in Italy.

Cerberus acquired the shares from the founder and Ceo Gianpiero Oddone and other members. Oddone will still be the Ceo, holding 28% of the shares. Roberto Nicastro, Cerberus senior advisor, will be the non-executive director.

In Italy, Cerberus acquired NPL portfolios and real estate assets for over 5.5 billion and about 400,000 loans for a purchasing price over 1.6 billion.

Officine CST was constituted in 2004, and it operates in the origination, analysis, rating, certification, management, transfer without recourse and judicial and extra-judicial collection of portfolios of credits for significant amounts. The company has managed so far over eight million invoices, and in 2009 it extended its services to credit management, working with the public administration.

In 2012 Officine CST entered the market of unsecured utility non-performing loans towards privates and of secured non-performing loans held by banks towards their clients. It has managed since 2017 Crediticertificati.it, a digital marketplace for the disposal and monetisation of credits towards the public administration.

Source: Reuters

Translator: Cristina Ambrosi