MILAN Dec 19 Intesa Sanpaolo has drawn
at least seven non-binding bids for a bad loan portfolio worth a
gross 2.5 billion euros ($2.6 billion) it is expected to sell
early next year, four sources familiar with the matter said on
Two sources said bidders included KKR, Fortress
Investment Group, a consortium comprising Christofferson
Robb & Company and Bayview, AnaCap Financial Partners, Apollo
Global Management, Cerberus and Lone Star.
The sources said Intesa Sanpaolo would select a shortlist of
three investors this week, with the deal -- dubbed "Beyond the
Clouds" -- expected to close in the first quarter of 2017.
One source said the portfolio was mainly made up of
corporate loans and included also a 30 percent portion of
All parties involved declined to comment or could not be
immediately reached for comment.
Intesa has set up a bad loan unit called "Capital Light
Bank" which carries disposals of problem loans on a regular
basis. ($1 = 0.9571 euros)
(Reporting by Massimo Gaia, writing by Valentina Za, editing by