AnaCap acquires €1.9bn of non-performing UniCredit loans

The GP stated the portfolio consists mainly of secured and unsecured bankruptcy and other enforcement claims.

UniCredit Credit Management Bank (UCCMB), the debt collection unit of UniCredit, will continue to service part of the portfolio with the rest transferred to third-party management.

AnaCap has been actively acquiring loans from Italian banks this year. In February it bought a €700m portfolio of non-performing loans from UCCMB, while the previous month it acquired performing salary-secured loans worth €551m from Gruppo Monte dei Paschi di Siena.

Recent reports suggest UniCredit is close to selling around €5bn of bad loans in total, with the majority expected to go to private equity players.

Media sources also state the Italian bank is close to disposing of the UCCMB business altogether. UniCredit's chief executive Federico Ghizzoni was quoted by Reuters saying the bank's board will consider offers of around €700m for the business at a meeting today.

Law firm Paul Hastings acted as adviser to UniCredit on the latest deal with AnaCap.

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• Topics
• Deals
• Southern Europe
• Italy
• UniCredit
• AnaCap Financial Partners