(Alliance News) - ISCC Fintech Spa announced Thursday that the board, on the day it approved its accounts, decided to sell a EUR12.9 million portfolio of nonperforming loans.

The portfolio in question consists of loans consolidated in already issued injunctions all duly served and not opposed, with a total GBV, as of the cut-off date of March 1, 2024, of about EUR12.9 million, worth about EUR3.2 million.

The transaction was structured and executed through the MyNpl.it platform, which acted as financial advisor.

"The sale, which we expect to finalize in the coming weeks, upon completion of the usual due diligence activities, is part of a broader strategic project and makes us fully satisfied as it fits well in the valorization activity that the company has made of its loan portfolio and in parallel allows us to accelerate the operations planned for the coming months," said ISCC Fintech CEO Gianluca De Carlo.

ISCC Fintech's stock closed Thursday up 1.4 percent to EUR2.88 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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