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MDIBY Mediobanca Banca Di Credito Finanziario SPA (PK)

14.283
-0.487 (-3.30%)
Last Updated: 17:37:29
Delayed by 15 minutes
Name Symbol Market Type
Mediobanca Banca Di Credito Finanziario SPA (PK) USOTC:MDIBY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.487 -3.30% 14.283 14.37 14.46 14.307 14.283 14.307 524 17:37:29

UniCredit Sells NPL Portfolio to Mediobanca and Cerberus

27/11/2017 5:35pm

Dow Jones News


Mediobanca Banca Di Cred... (PK) (USOTC:MDIBY)
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   By Nathan Allen 
 

Italy's UniCredit SpA (UCG.MI) said Monday that it had agreed to sell a portfolio of non-performing loans to Mediobanca SpA's (MB.MI) MBCredit Solutions unit and an affiliate of Cerberus Capital Management LP.

The portfolio consists of secured and unsecured credits with a gross book value of about 715 million euros ($852.7 million), UniCredit said.

MBCredit Solutions has bought the unsecured segment of the portfolio, with a gross book value of EUR450 million, while Cerberus has bought the secured segment, which has a gross book value of EUR265 million, UniCredit said.

UniCredit also said that the sale forms part of its strategy to reduce its non-performing exposures, and that the transaction will be reflected in its fourth-quarter results.

 

Write to Nathan Allen at nathan.allen@dowjones.com

 

(END) Dow Jones Newswires

November 27, 2017 12:20 ET (17:20 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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