Unicredit is holding exclusive talks for hiring Prelios as exclusive manager of its NPEs (see here a previous post by BeBeez). Fabrizio Palenzona is the chairman of Prelios. The Milan-listed bank will make a decision by the end of April, sources said to BeBeez. The servicer Dovalue is managing the NPEs of Unicredit, but such agreement will expire in 2025. Market rumours say that doValue may manage the NPLs and Prelios the UTPs. Unicredit has NPEs with a face value of 11.7 billion euros (75% UTPs).
Sagitta and Europa Investimenti, two subsidiaries of Arrow Global, launched UTP Restructuring (UTPR), a vehicle for investing in corporate Stage 2 NPEs (see here a previous post by BeBeez). UTPR will have the fresh finance and corporate credit units and will attract mid-large corporate single name UTPs of Italian banks. Daniele Patruno is the ceo of Europa Investimenti. Claudio Nardone is the ceo of Sagitta.
Clearwater International, and debt advisory and m&a firm, appointed Davide Mereghetti as vice chairman of its Italian branch (fka Brera Financial Advisory) (see here a previous post by BeBeez). Mereghetti previously worked for Credit Suisse, Deutsche Bank and as head of Italian investment bank and Global Head of Family Office for Unicredit.
