UniCredit ("UC") announces today an agreement between UniCredit Leasing SpA ("UCL") and Guber banca SpA in relation to the disposal of a portfolio of Italian Leasing unsecured non performing loans, on a non-recourse basis (pro-soluto).
The portfolio consists entirely of Italian exposures with a gross claim value of approximately € 170 million as of 31.07.2018. The impact is expected to be reflected in the fourth quarter 2018 financial statements.
The sale is part of UniCredit Group's on-going strategy to reduce non performing exposures.
White & Case LLP has advised UC and UCL on the transaction.
Milan, December 19, 2018
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