December 20, 2019 / 3:52 PM / 2 months ago

Italy's Monte dei Paschi received three offers for real estate assets-sources

MILAN, Dec 20 (Reuters) - Italian bank Monte dei Paschi has received three binding offers for a package of properties that could be worth up to 300 million euros ($332.49 million), sources close to the matter said on Friday.

Earlier this year the troubled bank put on sale a portfolio of real estate assets in different Italian cities to boost its capital and comply with a restructuring plan agreed with the European Central Bank (ECB).

Blackstone, Italian asset manager Dea Capital Real Estate and real estate firm Hines submitted binding offers by a deadline initially set at the beginning of December, the sources said.

Monte dei Paschi, currently under state ownership following a bailout in 2017, is expected to take a decision at the end of January, according to the sources.

One source said that the portfolio was worth around 300 million euros, while a second source said that the value could be around 250-270 million euros.

In the restructuring plan agreed in 2017 with the ECB, Monte dei Paschi agreed that it would dispose of at least 500 million euros of real estate assets by 2021. ($1 = 0.9023 euros) (Reporting by Elisa Anzolin; editing by James Mackenzie)

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