April 6, 2018 / 8:38 AM / 3 months ago

BRIEF-Creval To Sell NPL Portfolio For Gross Book Value Of Over EUR 245 Mln

April 6 (Reuters) - BANCA PICCOLO CREDITO VALTELLINESE SPA:

* SIGNS AGREEMENT WITH ALGEBRIS INVESTMENTS TO SELL NPL PORTFOLIO FOR GROSS BOOK VALUE OF OVER EUR 245 MILLION

* PRICE OF THE SALE IS OVER 43 PERCENT OF GROSS BOOK VALUE

* THE PORTFOLIO CONSISTS OF CREDIT EXPOSURES MAINLY TO REAL ESTATE COMPANIES

* OPERATION WILL HAVE NEGLIGIBLE EFFECTS ON THE INCOME STATEMENT FOR THE CURRENT YEAR Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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