IFLR1000

Balbec Asset Management €570 million acquisition of UniCredit NPL portfolio

8/9/2016
Loan portfolio sale
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€ 570 million

$ 639.663 million

Completed

8/9/2016

Overview:

  • Balbec Asset Management has acquired a portfolio of NPLs from UniCredit for €570 million.
  • The portfolio consists of unsecured Italian SME credit loans and the sale is part of the UniCredit's wider strategy of divesting non-core assets.

Sam Duke - Editor

Jurisdiction:

Italy

Deal type:

Loan portfolio sale

Practice areas:

Banking
M&A

Governing law:

Italy

Industry sector:

Banking

Firms:
Ashurst

Party: Unicredit (Seller)

Schiavello & Co

Party: Balbec Asset Management (Acquirer)

Lawyer: Giuseppe Schiavello

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