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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.
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(END) Dow Jones Newswires
April 12, 2019 02:32 ET (06:32 GMT)
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