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UniCredit announces the sale of an Italian leasing unsecured non performing credit portfolio by UniCredit Leasing SpA

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

 

 

 

Enquiries

 

Investor Relations

Tel +39 02 88621028

e mail: investorrelations@unicredit.eu

 

Media Relations

Tel +39 02 88623569

e mail: mediarelations@unicredit.eu