(Alliance News) – Banca Ifis Spa and Mediobanca Spa Group announced on Tuesday that they had finalized the long-term partnership signed last May for the management of doubtful loans.
In particular, following obtaining the necessary regulatory authorizations, Banca Ifis finalized the purchase from Mediobanca, for 100 million euros, of Revalea Spa, a company created in 2022 from the spin-off of NPL from the acquisition of non-performing loan portfolios with a gross book value of €6.5 billion and a net book value of €232.1 million.
“The transaction consolidates the positioning of Banca Ifis as a key player in the impaired loan market in the small unsecured note segment and allows Mediobanca to exit the NPL business, which is no longer part of the core activities of the group, also consolidating the specialization of MBCredit Solutions in management and collection, being able to count on constant business volumes for the years to come”, we read in the Ifis note.
With the completion of the transaction, the multi-year service agreement came into effect, under which MBCredit Solutions will continue to support Banca Ifis in the management and recovery of non-performing and doubtful loans.
As part of the acquisition, 18 employees1 of Revalea will strengthen the Banca Ifis group team.
Shares of Banca Ifis closed Tuesday up 1.2% at 16.13 euros per share, while shares of Mediobanca rose 2.0% to 11.27 euros per share.
Par Giuseppe Fabio Ciccomascolo, senior journalist of Alliance News
Comments and questions to [email protected]
Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.
2023-10-31 16:58:00
#Banca #Ifis #Mediobanca #finalize #partnership #doubtful #loans
