Unicredit to sell non-performing loans worth 950 mln euros
MILAN Dec 24 (Reuters) - UniCredit said on Tuesday it reached a deal with Cerberus European Investments LLC to sell a portfolio of non-performing loans with a gross value of around 950 million euros ($1.3 billion).
The transaction, which will have an impact on the lender's balance sheet in the first quarter of next year, is part of a strategy to sell assets, the Italian bank said in a statement.
($1 = 0.7296 euros) (Reporting by Francesca Landini; editing by Jason Neely)
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