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The EU imposes to Mps an advisor to sell UTPs for 7 billion euro to SGA. The Lima and Papa2 operations are about to close

12 June, Bebeez

The European Antitrust Authority has set limits to the transfer of UTPs for 7 billion euro from Mps to Sga since both parts have the Ministry of Economy as the main shareholder. The Authority imposed to Mps to appoint an advisor to supervise the operation to make sure it will be carried at market values. Oliver Wyman will likely be the advisor.

Meanwhile, the Papa2 and Lima operations are about to conclude. The former concerns UTPs backed by real estate for a gross value of 500 million euro. The buyer might be Cerberus. The latter is constituted by five or single-name holdings for 130 million euro and might go to Bank of America Merrill Lynch.

Source: Bebeez

Translator: Cristina Ambrosi