25 January, Il Sole 24 Ore
Unicredit has opened the project Custoza to sell a new NPL portfolio with a name reminding of a popular white wine produced in Veneto on the hills between Verona and Garda.
According to the rumours, a portfolio composed of non-performing and impaired loans backed by real estate assets located in Veneto has been put for sales for a total value of 60 million euro. More in detail, the portfolio includes a loan for 11.9 million euro related to an impaired loan with Costa Sviluppo Spa, other 9 million impaired loans with Docks Venezia srl and bad loans for 31 million with Sirio San Marco srl. Costa Sviluppo Spa is the owner of a developable area hosting a theme park (a sort of Gardaland in the Polesine region), a logistics hub, and an ecovillage in the Costa di Rovigo area. While Docks Venezia was established to recover a part of the waterfront in Porto Marghera and make of it an extension of the technology park and Sirio San Marco aims at developing a wide area in Veneto near Padova.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi