Banca IFIS and KRUK Group agree to ?750 million euro NPLs portfolio transaction
(Thomson Reuters ONE) -
Mestre (Venice)/ Wroclaw, Poland, 22 December 2016 - Banca IFIS and KRUK Group
announce that today a binding offer was signed for the sale of a non-performing
loans portfolio of about 750 million euro (nominal value), corresponding to over
70 thousand positions. The operation - which was carried out in the secondary
unsecured market, allowing Banca IFIS to realize a capital gain - was completed
with the KRUK Group, a leader of the debt management market in Central Europe.
"We are pleased to announce this deal and welcome Banca IFIS to the widening
group of KRUK's business partners in Italy", said Tomasz Kurr, General Director
KRUK Italia S.r.l. "We are a leader of the debt management market in Central
Europe with its unique strategy focused on amicable settlements with its
clients, i.e. debtors. Since November 2015 KRUK operates in Italy and becomes a
most active credit restructuring partner for banks in the country".
"This transaction confirms Banca IFIS the strategy - stated Andrea Clamer, Head
of the NPL division - that includes the purchase, management and sale of non-
performing loans portfolios; in particular, the strategy includes the sale of
residual portions of portfolios that were acquired and fully managed. This deal
also testifies Banca IFIS's ability to create synergies with Italian and
International players active in the primary and secondary NPLs market".
From its entry into the market to the end of the third quarter 2016, the KRUK
Group invested a total of 56 million euro in unsecured retail debt portfolios in
Italy with an aggregate nominal value of 0.5 billion euro. After the end of the
quarter, KRUK also closed the purchase of a debt portfolio from Italy's
UniCredit Group. The portfolio's nominal value was 0.9 billion euro.
KRUK's geographical expansion in Italy is to be supported by the acquisition of
a local entity. In November, the KRUK Group acquired 100% of shares in Credit
Base International S.r.l., with which it had worked for several months on
portfolio valuations and debt management.
Banca IFIS and KRUK Group NPLs transaction_ENG:
http://hugin.info/143833/R/2067548/776315.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Banca IFIS S.p.A. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 22.12.2016 - 17:44 Uhr
Sprache: Deutsch
News-ID 514582
Anzahl Zeichen: 2845
contact information:
Town:
Venice
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 285 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Banca IFIS and KRUK Group agree to ?750 million euro NPLs portfolio transaction"
steht unter der journalistisch-redaktionellen Verantwortung von
Banca IFIS S.p.A. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
