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The 1Q25 portfolio’s gross book value (GBV) of Italy-based European NPEs servicer doValue, a firm that Manuela Franchi heads, amounts to 141 billion euros (see here a previous post by BeBeez). Mirco Briozzo leads the Italian operations. Gardant, a subsidiary of the firm, signed a servicing contract with Banco Bpm that in 3Q24 generated a turnover of 9 million, 9% of gross revenues. Furthermore, doValue signed for Alphabet Secured Retail Portfolio, a contract for handling the NPEs portfolio of Bain Capital, Fortress Investment Group and its subsidiaries. This is the second of three tranches of the Alphabet Project in Greece. Alphabet Secured Retail for which doValue is the exclusive servicer has a 1.4 billion GBV. For Alphabet Secured Corporate Portfolio, doValue’s Greek subsidiary paid 2.4 million upfront and signed a bilateral agreement with Bracebridge Capital that requires servicing assistance for NPEs with a 2.3 billion GBV. The National Bank of Greece (NBG) also hired doValue for Frontier III securitisation which concerns a portfolio consisting of secured NPLs with a GBV of EUR 700m. The agreement is subject to the completion of the securitisation process by NBG under the Hellenic Asset Protection Scheme (HAPS). Gardant is also handling an AMCO’s portfolio of NPEs with a face value of 1.5 billion.
IPV Investing, a secondary market investor in NPEs that Carlo Palla and Stefano Inguscio (60% owners) created in 2023, acquired Oolong, a portfolio of banking and finance small ticket unsecured unsecured NPLs worth in the region of 200 million euros (see here a previous post by BeBeez). ViviBanca owns 40% of IPV which also completed the carve out of Anibal a multioriginator portfolio worth one billion. Gatti Pavesi Bianchi Ludovici assisted IPV while Zenith Global acted as Master Servicer.
Italian food maker Pastificio Antonio Pallante acquired Pasta Ambra, the owner of the brand Pasta Reggia, from Vito Milella (see here a previous post by BeBeez). BonelliErede and Studio Renmas assisted the buyer. In 2020, Milella and Ricciarelli acquired Ambra and Pedone out of a bankruptcy procedure. Pasta Ambra has sales of 1.8 million euros, an ebitda of minus 0.335 million and equity of 0.722 million.
BeBeez acted as media partner for the presentation of the report that Nomisma and Unirec (Unione Nazionale Imprese a Tutela del Credito), the Italian association of credit servicers, presented (see here a previous post by BeBeez). The item said that in 2024 market participants handled positions worth a total 220.6 billion euros.
