Stock Market News
Italy’s AMCO to buy 1.4 billion euros of non-performing leasing credits from Intesa
2022.07.01 15:00
FILE PHOTO: Intesa Sanpaolo skyscraper, designed by Italian architect Renzo Piano, is seen in Turin April 10, 2015. REUTERS/Giorgio Perrottino
MILAN (Reuters) – Italy’s state-owned bad loan specialist AMCO said on Friday it had signed an agreement with lender Intesa Sanpaolo (OTC:ISNPY) to purchase a portfolio of non-performing leasing credits with a gross value of around 1.4 billion euros ($1.46 billion).
The deal will be finalised by the end of this year.
AMCO added it had signed another contract with Intesa to buy a portfolio of single-name unlikely-to-pay loans with a gross value of 120 million euros. ($1 = 0.9578 euros)
