AMCO, agreement with Intesa Sanpaolo for 1,4 billion leasing loans
AMCO SIGNED AN AGREEMENT WITH INTESA SANPAOLO GROUP
TO PURCHASE €1.4 BILLION LEASING LOANS
Milan 1 July 2022. AMCO informs that it has signed an agreement with Intesa Sanpaolo Group to purchase approximately €1.4 billion (gross book value) of non-performing leasing loans.
The deal will be finalised by the end of 2022.
The portfolio under the agreement includes receivables deriving from leasing contracts, mainly related to corporate customers, with underlying assets mostly of real estate nature.
With this transaction, AMCO confirms its intention to consolidate its presence in the leasing sector, supporting originating banks in their de-risking processes with the objective of establishing long-term relationships.
AMCO will manage this portfolio by leveraging the skills of the Real Estate division which coordinates the activities concerning the valorisation of the real estate properties underlying leasing contracts.
AMCO was assisted by Legance as legal advisor.
In addition, AMCO informs that it has signed an agreement with Intesa Sanpaolo Group for the purchase of a single-name UTP portfolio with a gross book value of €120 million.For this deal, AMCO was assisted by the law firm White & Case.
