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Unicredit signs agreements to sell 17.7 billion Npl

Posted: 14 December 2016

UniCredit has signed two separate agreements with Fortress and Pimco for the sale of a NPL portfolio amounting to €17.7 billion.

The agreement with Fortress and Pimco, Which is expected to be completed by the end of the first half of 2017, subject to customary conditions precedent, envisages that the NPL portfolio will be transferred to two special purpose entities in which UniCredit will retain a minority interest.