Intrum Justitia AB (INTRUM.ST)
18 May 2018
MILAN, May 16 Polish debt collector KRUK targets increasing bad loans under management at its recently acquired debt recovery company in Italy, Agecredit, by nearly eight times to 3 billion euros ($3.5 billion) by 2021.
MILAN, May 15 Italy's Banca IFIS has agreed to buy rival FBS as it expands its collection business beyond a traditional focus on unsecured loans to include corporate and property-backed debt.
(Corrects conversion of 69.94 billion rupees to 870 million euros, not 87 million euros) The following factors could affect Italian markets on Monday.
The following factors could affect Italian markets on Wednesday.
MILAN Intesa SanPaolo's deal with Sweden's Intrum Justitia shows bad loans can be sold without a loss and will help Italian lenders turn a corner after "a perfect storm" of fire sales, CEO Carlo Messina said.
* Intesa, Intrum to create Italian debt servicing company (Recasts after press conference)
* STATE GUARANTEE NOT NECESSARY FOR SENIOR TRANCHE IN BAD LOAN SECURITISATION
* INTRUM AND INTESA SANPAOLO ENTER INTO A LONG TERM STRATEGIC PARTNERSHIP, CREATING A MARKET LEADING SERVICER OF NON-PERFORMING LOANS IN ITALY
The following factors could affect Italian markets on Tuesday.
April 16 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday: ** Shire, the London-listed rare diseases specialist that is a potential takeover target for Japan's Takeda Pharmaceutical, is selling its oncology business to unlisted French drugmaker Servier for $2.4 billion. ** Pebblebrook Hotel Trust has sweetened its $3 billion-plus offer to buy U.S. peer LaSalle Hotel Properties after the owner of high-end locations including 'W' Los Angeles s