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npl-reo Market News: Spanish Real Estate Intelligence

Cerved exploring the sale of its credit management division to Bain and other funds
13 September, Il Sole 24 Ore Cerved is expecting the first manifestations of interest for Cerved Credit Management, its credit management business division. The unit manages credits for 53.3 billion euro, 43.8 billion of which are NPLs. Cerved might sell the unit or integrate it with another player with successively a possible IPO or find a strategic partner to develop the business. Among the candidates, there are funds like Bain Capital Credit, Cerberus and Apollo, as well as doValue (formerly doBank) and Prelios. Source: Il Sole 24 Ore Translator: Cristina Ambrosi
 
Banks: new NPL and UTP operations for 36 billion
02 September, Fortune According to PwC, banks are ready to transfer impaired loans for a total of 36 billion euro in the upcoming months, which will add to the 11.7 billion already transferred. UTPs will play a crucial role, with Unicredit and Mps planning large operations and Intesa Sanpaolo having entered an agreement with Prelios for the management of its UTPs. Source: Fortune Translator: Cristina Ambrosi