P&G, an alternative asset manager, and Italian credit servicer Fire launched Persefone, a vehicle for investing in small-mid tickets NPLs and UTPs (see here a previous post by BeBeez). PwC and PwC TLS acted as advisors. Sergio Bommarito, the ceo and founder of Fire, previously said to BeBeez that he was working on the launch of such a vehicle that already involved UniCredit, illimity Bank, Banco di Desio e della Brianza, Banca Cambiano 1884, and Banca Agricola Popolare di Ragusa that brought in the fund credits with a face value of 300 million euros. By 2025, Persefone aims to manage credits worth 700 million.
Trenitalia, part of Italian railway operator Ferrovie dello Stato, acquired Italia Loyalty, the owner of clients rewarding company MyMiglia (fka MilleMiglia) from bankrupted Italian airways Alitalia (see here a previous post by BeBeez). PwC Advisory assisted the insolvency administrators of Alitalia that fetched 1.5 million euros out of the sale of MilleMiglia.
Cherry Bank‘s NPLs portfolios are worth 5.4 billion euros in 2023 (see here a previous post by BeBeez). The average net price of NPLs in 2023 amounted to 64 million (+4.9% from 61.2 million in 2022).
