Purchase of NPE portfolio from Creval
GROWTH THROUGH NEW PORTFOLIO PURCHASES GOES ON
Signed agreement with Creval for the acquisition of a €177m secured non-performing loans portfolio
Milan, March 12th, 2020. – Today AMCO signed an agreement with Creval for a non-recourse (pro-soluto) purchase – pursuant article 58 of TUB- of a non-performing loans portfolio originated by the bank with a gross book value of approximately €177m.
The portfolio is composed of bad loans secured by real estate collaterals from approximately 1.600 debtors, mostly corporate customers.
The transaction, resulting from a competitive auction, confirms AMCO’s mission to pursue sustainable growth leveraging economies of scale, within a highly competitive market. AMCO wishes that this transaction will be followed by other opportunities to collaborate with Creval group.
AMCO has been advised by Gianni Origoni, Grippo, Cappelli & Partners acting as legal consultant of the transaction.