No Result
View All Result
  • Private Data
  • Membership options
  • Login
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Home DISTRESSED ASSETS

Intrum offers 3,6 bn euros for Intesa Sanpaolo’s NPEs servicing platform a 10.8bn euro bad loans portfolio

Bebeezby Bebeez
April 17, 2018
Reading Time: 2 mins read
in DISTRESSED ASSETS, ITALY
Share on FacebookShare on Twitter
Fonte: Piano d'impresa di Intesa Sanpaolo 2018-2021
Fonte: Piano d’impresa di Intesa Sanpaolo 2018-2021

Intesa Sanpaolo confirmed yesterday it has received a binding offer from Intrum Iustitia for its  non performing exposures servicing platform valued 500 million euros and for a 10.8 billion euros GBV bad loans portfolio at a 3.1 billion euros price ( see here the press release).

The offer, if accepted, would generate a net capital gain of around  400 million euros in Intesa Sanpaolo’s consolidated income statement. The offer will be submitted to the Board of Directors of Intesa Sanpaolo convened for today.

Intrum had entered in exclusive talks with Intesa Sanpaolo last February (see here a previous post by BeBeez), winning a competitive offer from Chinese CEFC, joined by Negentropy Capital (see here a previous post by BeBeez).

More in detail Intrum’s offer consists in the merging Intesa Sanpaolo and Intrum’s servicing NPEs platforms in a unique platform servicing a total of 40 billion euros of NPEs. The new platform would be controlled by Intrum with a 51% stake, while Intesa Sanpaolo would own the raining 49%.  The new platform would sign a 10-year contract for the servicing of Intesa Sanpaolo bad-loan portfolios, with terms and conditions in line with market standards and would count about 1,000 employees of which 600 people from Gruppo Intesa Sanpaolo.

Intrum’s offer also includes the sale and securitization of a 10.8 billion euros bad loans portfolio from Intesa Sanpaolo at a price in line with the carrying value or 3,1 billion euros. In order to obtain the full accounting and regulatory derecognition of the portfolio at the closing date (expected in November 2018), the securitization would be structured with a Tranche Senior equivalent to 60% of the portfolio price, to be underwritten by a pool of leading banks;  and with a Junior and a Mezzanine Tranche equivalent to the remaining 40% of the portfolio price, to be underwritten by a vehicle (51%) – to be participated by Intrum and one or more co-investors, but however to act as a single investor for governance purposes – and by Intesa Sanpaolo (49%).

Gateways to Italy

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

by Partner
June 6, 2023

Sign up to our newsletter

SIGN UP

Related Posts

Italy’s angels & incubators and venture capital weekly roundup. News from Proxima Fusion, Cherry Ventures, Balderton Capital, Enterome, Institute for Follicular Lymphoma Innovation (9 million), Primo Capital, SymBiosis, Seventure Partners, Lundbeckfonden BioCapital, Therapy Acceleration Program ofa Leukemia & Lymphoma Society, and more
FINTECH

Italy’s angels & incubators and venture capital weekly roundup. News from Proxima Fusion, Cherry Ventures, Balderton Capital, Enterome, Institute for Follicular Lymphoma Innovation (9 million), Primo Capital, SymBiosis, Seventure Partners, Lundbeckfonden BioCapital, Therapy Acceleration Program ofa Leukemia & Lymphoma Society, and more

June 17, 2025
Italy’s distressed assets and NPEs weekly round-up. News from FC Inter, Oaktree, LionRock, Intrum, and more
DISTRESSED ASSETS

FC Inter says it will refinance its 415 million euros bond. Oaktree may pour further equity

June 16, 2025
Italy’s private equity weekly roundup. News from SIFI, Faes Farma, 21 Invest, Irplast, Toppan, Chenye Capital, and more
ITALY

Italy’s private equity weekly roundup. News from SIFI, Faes Farma, 21 Invest, Irplast, Toppan, Chenye Capital, and more

June 16, 2025

ItaHub

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Italy’s SMEs export toward 260 bn euros in 2025

Italy’s SMEs export toward 260 bn euros in 2025

September 9, 2024
With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

April 23, 2024
EU’s AI Act, like previous rules on technology,  looks more defensive than investment-oriented

EU’s AI Act, like previous rules on technology, looks more defensive than investment-oriented

January 9, 2024

Co-sponsor

Premium

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

March 6, 2025
Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

February 10, 2025
Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Venture capital investments top €1.3bn in 208 rounds as of Sep30  in Italy. They were €1.5 in all 2023. The new BeBeez Report

Venture capital investments top €1.3bn in 208 rounds as of Sep30 in Italy. They were €1.5 in all 2023. The new BeBeez Report

October 28, 2024
Next Post

Italy's angels & incubators and venture vapital weekly roundup. news from Xriba and Invitalia Venture sgr

Top banker Fabrizio Viola to look for 200 mln euros for its new Spac

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

COUNTRY

Italy
Iberia
France
UK&Ireland
Benelux
DACH
Scandinavia&Baltics

CATEGORY

Private Equity
Venture Capital
Private Debt
Distressed Assets
Real Estate
Fintech
Green

PREMIUM

ItaHUB
Legal
Tax
Trend
Report
Insight view

WHO WE ARE

About Us
Media Partnerships
Contact

INFORMATION

Privacy Policy
Terms&Conditions
Cookie Police

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHub
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • Login
  • Cart