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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Unicredit Spa | BIT:UCG | Italy | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.32 | 0.93% | 34.90 | 34.70 | 34.95 | 35.17 | 34.655 | 34.70 | 5,644,142 | 16:40:00 |
From May 2019 to May 2024
By Pietro Lombardi
UniCredit SpA (UCG.MI) has reached an agreement with illimity SpA and Guber SpA for the sale of a nonperforming loans portfolio with a gross claim value of 450 million euros ($501.3 million).
The portfolio consists of unsecured NPLs to Italian small and medium firms, UniCredit said Friday. The Italian bank said the impact of the sale is already included in its second-quarter results.
Illimity acquired a part of the portfolio with claim value of EUR240 million, with Guber buying the remaining portion.
"The sale is part of UniCredit's ongoing strategy to reduce nonperforming exposures," it said.
On Thursday, the bank said it had agreed to sell an NPL portfolio of EUR1.1 billion to a securitization vehicle financed by SPF Investment Management LP.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
July 26, 2019 03:07 ET (07:07 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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