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BRIEF-Carige says around 30 potential bidders for bad loans
August 31, 2017 / 4:21 PM / 3 months ago

BRIEF-Carige says around 30 potential bidders for bad loans

Aug 31 (Reuters) - Italy’s Banca Carige says:

* Confirms deadlines for asset sales

* Received more than 30 expressions of interest for 1.2 billion euro bad loan portfolio and bad loan management platform on sale

* Expects non-binding bids in coming weeks and binding offers by early November after opening virtual data room in August

* To select shortlist of bidders by mid-September for sale of building in centre of Milan. To assess binding bids by end-September

* To select non-binding bids for consumer credit unit Creditis by mid-September. Sale of merchant book business is at an advanced stage.

* Expects to carry out by December proposed capital strengthening which includes rights issue and possible liability management

* Board to examine on Sept. 13 new business plan which will presented the following day Further company coverage: (Reporting by Milan Newsroom)

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