By Reuters Staff
1 Min Read
MILAN (Reuters) - Europe’s biggest manager of bad loans Intrum said it had teamed up with Spain’s Deva Capital to buy two portfolios of non-performing credit from Italy’s Intesa Sanpaolo worth a total of 1.71 billion euros ($2.03 billion) .
Intrum will independently also buy another 225 million-euro portfolio from Intesa and BPER Banca.
Sweden’s Intrum said in a statement on Tuesday its Italian unit will act as the sole servicer of the three portfolios, made up of secured loans for 19.6%, of unsecured credit for 23.8% and of leased loans for 56.8%.
($1 = 0.8412 euros)