|Milano, 7th December 2005|
Banca Intesa has finalised the sale without recourse of around €9 billion of the Group’s gross doubtful loans to an acquisition company set up by Fortress and Merrill Lynch. At the same time, Intesa Gestione Crediti, controlled by Banca Intesa, has closed the sale to Fortress and Merrill Lynch of 81% of Castello Gestione Crediti, the company which had previously received the contribution of the loan servicing business of Intesa Gestione Crediti dedicated to the management of doubtful loans. Gruppo Intesa will retain a 19% shareholding in the capital of Castello Gestione Crediti.
Last updated 7 December 2005 at 17:42