Italian banking major UniCredit has agreed to sell a EUR1.2bn ($1.34bn) portfolio of non-performing loans to British private equity firm AnaCap Financial Partners.
The sale refers to the Trevi 3 portfolio and consists of Italian defaulted loans to small and medium-sized enterprises with a gross book value of approximately EUR670m, the bank said in a statement.
The sale is part of the Italian lender’s on-going effort to reduce non-core assets and bolster its credit profile.
This is the fourth asset disposal performed by the banking group in 2015.
The lender said that economic-financial impacts will be reflected in balance sheet of third quarter of 2015.
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By GlobalData