MILAN (Reuters) - Lone Star, Christofferson Robb & Co (CRC) and other specialized investors have presented non-binding offers to buy a platform that will manage part of Monte dei Paschi di Siena’s (BMPS.MI) bad loans, three sources close to the matter said.
The Tuscan bank is selling its 27.7 billion euro ($31 billion) portfolio of loans to insolvent borrowers in a complex securitization scheme, part of a broader rescue plan aimed at addressing regulatory concerns over its financial stability.
Monte dei Paschi is working with Italian investment bank Mediobanca (MDBI.MI) to set up a platform to manage its portfolio and bring in a partner to improve collections.
The sources said on Friday that offers had come from a consortium comprising U.S.-based Lone Star and Italian servicer Caf, and a second group made up of CRC and Italian real estate group Prelios (PCRE.MI).
The portfolio of bad loans to be managed by the platform will likely be worth around 9 billion euros, one of the sources said.
All involved parties declined to comment or were not immediately available for a comment.
Reporting by Massimo Gaia and Elisa Anzolin; writing by Francesca Landini; Editing by Crispian Balmer