MILAN, March 20 Intesa Sanpaolo has set
an April 4 deadline to submit binding offers for a bad loan
portfolio worth 2.5 billion euros ($2.7 billion) it has put up
for sale and for which it expects to receive three bids, two
sources familiar with the matter said.
The portfolio, dubbed "Beyond the clouds", is made up of
corporate loans and backed by real estate assets for about 30
The sources said the bank was expected to receive three
binding bids from the following teams of investors and
servicers: Christofferson Robb & Company and Bayview Asset
Management, Apollo Global Management and Credito
Fondiario, Cerberus Capital Management and Cerved.
All the interested parties declined to comment.
($1 = 0.9301 euros)
(Reporting by Massimo Gaia, writing by Valentina Za,)