MILAN (Reuters) – Europe’s largest bad loan manager Intrum has said it has teamed up with Spain’s Deva Capital to buy two NPL portfolios from Italy’s Intesa Sanpaolo for a total of € 1.71 billion ($ 2.03 billion).
Intrum will also independently buy another € 225 million portfolio from Intesa and BPER Banca.
Sweden’s Intrum said on Tuesday in a statement that its Italian division will act as the sole support staff for three portfolios of secured loans at 19.6%, unsecured loans at 23.8% and leased loans at 56.8%.
(1 dollar = 0.8412 euros)
Reporting by Maria Pia Quaglia; Editing by Agnieszka Flack