UniCredit announces to have reached an agreement with AnaCap on the transfer of a €1.2bn non performing credit portfolio (NPLs) - press release:

UniCredit announces to have reached an agreement last week with AnaCap Financial Partners LLP ("AnaCap") in relation to the transfer on non-recourse basis (pro-soluto) of a € 1.2 billion non performing credit portfolio claims (NPLs).

The sale refers to the Trevi 3 portfolio, consisting of Italian high vintage defaulted loans, both secured and unsecured, to small and medium enterprises and small businesses, with a gross book value of approximately €670 million.

The sale of the Trevi 3 portfolio is part of UniCredit's on-going activities aimed at reducing non-core assets and at strengthening its credit profile. It represents the fourth asset disposal performed by the Group in 2015.

The economic-financial impacts will be reflected in 2015-Q3 balance sheet.

The parties have been supported respectively by the following legal advisors: Paul Hastings on the sell side and NCTM on the buy side.