Cerved Credit Management would be in the running for the acquisition of MPS's non-performing loan management platform, called Juliet. The company will have to propose, together with its direct competitor doBank, the final purchase offer by 7 November.
The negotiation concerns a third of the total npl within the Sienese bank which amount to approximately 27 billion. MPS will sell them for 33% of their nominal value, through the maxi-securitization operation, which will in any case be subject to the successful outcome of the capital increase.
MPS's strategy for managing non-performing loans has changed over time. In fact, at the beginning it was envisaged that all 27 billion Npl should flow into Juliet. Subsequently, under the direction of Mediobanca (advisor together with Jp Morgan), the strategy changed up to the current state which provides for the division into two tranches of non-performing loans.
The first will be finalized with the sale of the Juliet platform with a portfolio of 9 billion. The second, however, provides for the use of Gacs (state guarantees) and the entry into the field of the Atlante fund of Quaestio Sgr which will guide the operation on the remaining 18 billion both for the securitization structure and for the recovery of credits. The stock At around 11:10, it was in positive territory with a gain of 0,14 percent.
