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Provider: Reuters Investment Profile
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Provider: Wright Reports

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UniCredit SpA announces to have reached an agreement on the sale of a non performing consumer and personal loans credit portfolio

Tuesday, 24 Dec 2013 03:26am EST 

UniCredit SpA:Says it has reached an agreement with Cerberus European Investments, LLC. (Cerberus) in relation to the disposal on non-recourse basis (pro- soluto) of a non performing unsecured consumer and personal loans credit portfolio.Says the portfolio consists entirely of Italian loans with a gross book value of about 950 million euros and with a coverage in excess of 90 pct.Says the sale is part of UniCredit's on- going activities to sell non-core assets and strengthen its credit profile.Says UniCredit anticipates that the transaction to be closed by Feb. 28, 2014 and the impact will be reflected in Q1 2014 balance sheet. 

Company Quote

-0.085 -1.34%
26 Mar 2015