Italy-based retail bank Intesa Sanpaolo is reportedly planning to sell its Accedo consumer credit unit by the end of 2015.
The deal, which is part of the group’s multi-year strategy to dispose non-core assets, could fetch about EUR400m ($439m), Reuters reported citing undisclosed sources.
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The Italian lender plans to offload both the unit, which grants loans guaranteed by a portion of the debtors’ salary, as well as a loan portfolio worth EUR4bn.
Potential suitors for the consumer credit unit reportedly include Apollo Global Management, Lone Star, Vaerde Partners, Christofersson Robb & Company, and Fortress Investment Group.
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