(Visited 79 times, 1 visits today)
(Visited 79 times, 1 visits today)
  • Transaction / Assets
    Four NPL portfolios
  • Seller
    Crc Bayview, Balbec, ViVi Banca, Consel
  • Buyer
    MBCredit Solutions (Mediobanca)
  • € MM
    665.3

Mediobanca: MBCredit Solutions bought bad loans for 665.3 million

14 September, Milano Finanza

MBCredit Solutions, a company of the group Mediobanca operating in the non-performing loans sector, acquired four portfolios of unsecured bad loans for a total nominal value of 665.3 million euro, corresponding to about 40 thousand holdings.

The biggest portfolio is valued at 425 million euro, and it contains unsecured loans originated from mortgages, current accounts and personal loans by Crc Bayview. The second portfolio has a value of 217 million consisting in corporate NPLs originated from leasing contracts by Balbec. The last two portfolios are worth respectively 12 and 11.3 million, and they include credits from ViVi Banca and Consel.

Thanks to the operations, MBCredit Solutions holds now a portfolio valued 5 billion euro (nominal value) with over 600 thousand holdings. MBCredit Solutions was assisted concerning the legal matters by the firm Gattai, Minoli, Agostinelli & Partners, especially by da Emanuela Campari Bernacchi (Partner) and Salvatore Graziadei (Senior Associate).

On the Milan stock exchange, the Mediobanca shares have progressed by 0.27%, setting 9.028 euro. The market is waiting to see if Unicredit, Mediobanca first shareholder holding 8.43% of the capital, will keep its quota as agreed till December 2019 (the deadline for the cancellation is on 30th September). We remind that the interests held by the bank in Mediobanca are merely a financial investment. However, analysts believe that Unicredit would not sell its stakes in Mediobanca in the short term, as the current price is lower than the book value set at 10.3 euro.

Source: Milano Finanza

Translator: Cristina Ambrosi

 

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