illimity to form a joint venture with Apollo to invest up to 500 mln € in NPLs
17 June, La Stampa
illimity Bank entered a binding agreement with Apollo Global Management to form a joint venture to invest up to 500 million € in distressed credits. The investments will concern Italian bad loans and unlikely-to-pay backed by assets. illimity will also allocate 231 million € to the JV, which will have an initial investment horizon of 2 years. Neprix (illimity Group) has been appointed to manage the credits.
Source: La Stampa
Translator: Cristina Ambrosi