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Popolare di Vicenza, Veneto Banca close to sell 8-9 bln euros in bad debts-Cerved
May 2, 2017 / 2:23 PM / 5 months ago

Popolare di Vicenza, Veneto Banca close to sell 8-9 bln euros in bad debts-Cerved

MILAN, May 2 (Reuters) - Troubled Italian banks Popolare di Vicenza and Veneto Banca are close to finalising the long-mooted sale of 8-9 billion euros in problem loans, the chief executive of bad loan manager Cerved said on Tuesday.

“We expect something to happen shortly,” CEO Marco Nespolo said in reference to the two Veneto-based lenders’ bad loan sale.

Nespolo also told an analyst call that a consortium comprising a fund he did not name and Cerved had been shortlisted to submit a binding bid for a 700 million euro ($762 million) bad loan sale by Banco BMP.

Sources have said Cerved has teamed up with Cerberus in the tender.

$1 = 0.9181 euros Reporting by Massimo Gaia, writing by Valentina Za

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