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UniCredit announces the sale of an Italian Small Medium Enterprise secured non performing credit portfolio

UniCredit today announced an agreement with an affiliate of Fortress Investment Group LLC ("Fortress") in relation to the disposal of a portfolio of Italian Small and Medium Enterprise secured non performing loans, on a non-recourse basis (pro-soluto).

 

The portfolio consists entirely of Italian exposures with a gross claim value of approximately € 675 million as of 31.03.2018.The impact is expected to be reflected in the fourth quarter 2018 financial statements.

 

The sale is part of UniCredit's on-going strategy to reduce non performing exposures.

 

 

Milan, November 30, 2018

 

 

 

Enquiries

 

Investor Relations

Tel +39 02 88624324

e mail: investorrelations@unicredit.eu

 

Media Relations

Tel +39 02 88623569

e mail: mediarelations@unicredit.eu