Spaxs is the new Special Purpose Acquisition Company lauched by Corrado Passera, former Intesa Sanpaolo and Poste Italiane’s ceo and former Minister of the economic development, and Andrea Clamer, former head of Npl Area at Banca Ifis. It is expected to raise 400-500m aimed at investing in a non performing loans managing platform and/or a small bank in order to enter the Italian Npl market and and financing Italian SMEs (see also Bebeez,it article)
Intesa Sanpaolo is considering to sale a 10Bn NPL portfolio together with its credit management platform now part of the non core unit Capital Light Bank. Sweden’s Intrum Justitia, as reported by Blomberg should be already working on the potential acquisition that may be auctioned later on this year.
Banca Akros closed the Project Multiseller NPL 2017, a mostly secured NPL deal originated by 5 banks, namely Banca Centropadana Credito Cooperativo, Banca di Piacenza, Banca Valsabbina, Sanfelice 1893 Banca Popolare e Banca Mediocredito del Friuli Venezia Giulia. This deal is part of a wider Multiseller NPL program aimed to help banks to dispose their NPL and UTPs.
Polish listed servicer Best SA acquired 128m NPL portfolio from 15 cooperative banks. The deal included mostly retail and SMEs exposures. Iccrea Banca has arranged the deal for the sellers while Zenith Service as worked as advisor and master servicer for the buyer.
Axactor Italy (formerly CS Union) acquired 2 mixed consumer and SME (including some secured exposure) an 1 Leasing NPL portfolios for a total GBV o 80m.
GLG – Gerson Lehrman Group – Council Member