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npl-reo Market News: Italian Real Estate Intelligence

Intesa Sanpaolo sold NPLs for 2.6 bln €
30 September, Finanza Report Intesa Sanpaolo sold to Mediobanca non-performing loans amounting to 2.6 billion € which are part of a bigger portfolio for a value of 4.4 billion (Kenobi). The portfolio also includes NPLs for 1.9 billion € that went to Banca Ifis, Guber Banca, Deva Capital and Intrum. Deva Capital and Intrum also acquired a non-performing leasing portfolio totalling 1.1 billion (Portland). Finally, Christofferson Robb & Co (Crc) is the underwriter of the mezzanine and junior tranches of a UTP portfolio held by Intesa for a value of 2 billion € named Project M2. Source: Finanza Report Translator: Cristina Ambrosi
Negotiation extended for the merger between UniCredit and Mps
10 September, Finanza Report The negotiation for the merger between UniCredit and Mps had been extended. The results of the due diligence will be decisive for a risk-free acquisition by UniCredit. The operation is hazardous due to the considerable amount of non-performing loans and credits at risk for about 15 billion € held by Mps.  UniCredit is mainly interested in Mps branches in the north and central Italy and the online bank Widiba. Source: Finanza Report Translator: Cristina Ambrosi
Intrum acquired NPLs for 1.9 bln €
03 August, Milano Finanza Intrum had completed NPL operations on the Italian market amounting to 1.9 billion € in total. Together with Deva Capital (Santander Group), Intrum acquired a leasing portfolio from Intesa Sanpaolo Provis and Ubi Leasing for a nominal value of 1.1 billion €, consisting of secured loans backed by approximately 750 assets. Deva Capital and Intrum had also entered an agreement to acquire from Intesa Sanpaolo a secured loans portfolio towards SMEs with a nominal value of around 610 million €. Finally, Intrum acquired from Intesa Sanpaolo and Bper an unsecured consumer credit portfolio with a nominal value of approximately 225 million €. Source: Milano Finanza Translator: Cristina Ambrosi