Ifis Npl’s €155 Million Acquisition of NPLs Porfolio from UniCredit


White & Case LLP has advised UniCredit’s Group Legal NPE Team and Group Distressed Asset Management Team on the deal.

UniCredit executed the disposal of a non-performing unsecured individual Italian credit portfolio on a non-recourse basis (pro-soluto) to IFIS NPL S.p.A., company subject to direction and coordination by Banca IFIS S.p.A.

The portfolios consist entirely of Italian unsecured individual credits, including Salary Backed Loans with a claim value of approximately €155 million.

In addition to the sale of these portfolios, UniCredit and IFIS NPL have also concluded a framework agreement for the sale of non-performing loans arising from consumer credit contracts for which UniCredit will be the owner to the end of 2020 for an indicative amount of approximately €180 million, of which €30 million has already been transferred to IFIS NPL.

The White & Case team in Milan which advised Unicredit in the transaction comprised partner Gianluca Fanti (Picture), local partner Francesco Scebba and associate Rocco De Nicola.

Involved fees earner: Rocco De Nicola – White & Case; Gianluca Fanti – White & Case; Francesco Scebba – White & Case;

Law Firms: White & Case;

Clients: Unicredit S.p.A.;