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Cerberus rejected the Saco bail proposal. The construction company ends up in liquidation

03 September, Bebeez

The fund Cerberus, the main creditor of Saco, rejected the bail proposal of the construction company. Cerberus bought the Saco debts included in the NPL portfolio Rossini from Banca Marche for a gross value of 760 million euro. The debts of Saco towards the bank amounted to 135 million. The rejection by Cerberus will result in the liquidation of the company’s assets, assessed around 130 million and including real estate assets and developable areas.

Source: Bebeez

Translator: Cristina Ambrosi

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