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UniCredit and affiliates of Fortress together with Prelios finalize the sale of UCCMB, including c. €2.4bn non-performing loans

After receiving the necessary approvals, UniCredit S.p.A. UniCredit and affiliates of Fortress together with Prelios have closed today the sale of UniCredit Credit Management Bank S.p.A. (UCCMB), including c. €2.4bn non-performing loans.

 

Terms and conditions of the transaction as well as impacts on UniCredit SpA as announced on 11 February 2015 remain unchanged.

 

This transaction will help to open the Italian servicing market for the recovery of non-performing loans more independent and represents a positive step for the sector, in line with developments in other European countries.

Fortress and Prelios have agreed to co-operate as industrial partners in relation to the servicing of certain non-performing loans.

 

 

Milan, 30 October 2015