(Teleborsa) – Unicredit has concluded an agreement with a Hungarian financial company for the sale without recourse of a portfolio of residential mortgages. The operation was financed by investment funds managed by Balbec Capital LP and APS Holding.
The portfolio relates exclusively to receivables deriving from loan agreements governed by Hungarian law for an amount - gross of value adjustments - of approximately Euro 138,9 million (HUF 42,7 billion).
The sale of the portfolio forms part of UniCredit's current strategy of selling non-core assets, aimed at strengthening the Group's risk profile.
The impact will be included in the Unicredit financial statements for the first quarter of 2017.
