Mediobanca's MBCredit Solutions buys 2.6 bln euro NPL portfolio from Intesa Sanpaolo

MILAN, Sept 29 (Reuters) - Italy's MBCredit Solutions, a unit of merchant bank Mediobanca (MDBI.MI), said on Wednesday it reached an agreement with Intesa Sanpaolo (ISP.MI) to acquire a bad loan portfolio worth around 2.6 billion euros ($2.22 billion).

The deal, the biggest acquisition ever made by MBCredit Solutions in terms of stock, takes its managed assets to almost 11 billion euros.

The portfolio consists of unsecured loans originated from retail customers, small and medium enterprises (SMEs) and corporate clients for a total of 42,000 counterparties, the statement added.

($1 = 1.1714 euros)

Register now for FREE unlimited access to Reuters.com
Reporting by Cristina Carlevaro, editing by Giulia Segreti

Our Standards: The Thomson Reuters Trust Principles.