UniCredit to Sell Nonperforming Loan Portfolio to Mediobanca

Date : 04/12/2019 @ 6:47AM
Source : Dow Jones News
Stock : Mediobanca (MB)
Quote : 10.56  -0.085 (-0.80%) @ 4:35PM
Mediobanca share price Chart

UniCredit to Sell Nonperforming Loan Portfolio to Mediobanca

Unicredit (BIT:UCG)
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   By Nathan Allen 

UniCredit SpA (UCG.MI) said Friday that it has agreed to sell a portfolio of nonperforming Italian loans to Mediobanca Banca di Credito Finanziario SpA (MB.MI).

The portfolio has a nominal value of around 210 million euros ($236.7 million), according to Mediobanca.

UniCredit said it will sell a portfolio of Italian unsecured consumer credits with a book value of EUR51 million, followed by a second EUR160 million tranche of similar loans.

Following the completion of these transactions Mediobanca's MBCredit Solutions proprietary portfolio totals around EUR5.6 billion, the company said.


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


(END) Dow Jones Newswires

April 12, 2019 02:32 ET (06:32 GMT)

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