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UniCredit receives at least 3 offers for UCCMB unit -sources
July 16, 2014 / 6:35 PM / 3 years ago

UniCredit receives at least 3 offers for UCCMB unit -sources

MILAN, July 16 (Reuters) - UniCredit has received at least three binding offers for debt collection unit UCCMB, which Italy’s biggest bank by assets has put up for sale as it tackles its large stock of soured loans, three sources close to the matter said on Wednesday.

The offers include one by a group made of Fortress Investment Group and real estate group Prelios , another by U.S. investment firm Cerberus Capital Management and Jupiter Asset Management, and a third by private equity firm Apollo Global Management.

The offer presented by the Cerberus and Jupiter team was only for UCCMB’s servicing platform, the sources added.

UniCredit and the mentioned bidders declined to comment.

The deadline for submission of binding offers expired on Wednesday, one of the sources said.

UniCredit has previously said it expects to seal the sale of the Verona-based UCCMB impaired loan management unit by the end of the year. (Reporting by Gianluca Semeraro and Massimo Gaia, writing by Agnieszka Flak, editing by Danilo Masoni)

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