Banco Popolare completed the sale without recourse of a portfolio of unsecured non-performing loans.
According to the press release issued by the institute led by Pier Francesco Saviotti, the transferred portfolio includes approximately 9 thousand positions for a total nominal value of approximately 618 million euro, with no negative impact on the income statement.
The sale entails for the Banco Popolare group the real and definitive transfer of the credit risks associated with the items sold.
"The portfolio - continues the note - was purchased by Marte SPV, a vehicle owned by Hoist Finance, a financial institution among the most important pan-European operators in the Npl market, listed on the Stockholm Nasdaq".
The transaction was completed with the selling party assisted by Kpmg as financial advisor and by Studio BonelliErede as legal advisor. The purchasing party was assisted by Studio Legale Rcc.
