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MILAN – Italy’s state-owned bad loan specialist AMCO said on Friday it had signed an agreement with lender Intesa Sanpaolo to purchase a portfolio of non-performing leasing credits with a gross value of around 1.4 billion euros ($1.46 billion).
The deal will be finalised by the end of this year.
AMCO added it had signed another contract with Intesa to buy a portfolio of single-name unlikely-to-pay loans with a gross value of 120 million euros. ($1 = 0.9578 euros)
(Reporting by Agnieszka Flak; Editing by Keith Weir)
