Edition:
United Kingdom

Illimity Bank Signs Deal To Buy Majority Stake in IT Auction


Wednesday, 26 Jun 2019 

June 26 (Reuters) - illimity Bank SpA ::SIGNS DEAL FOR ACQUISITION OF IT AUCTION.AGREEMENT ENVISAGES PURCHASE OF 70% OF SHARE CAPITAL OF IT AUCTION AT PRICE OF EUR 10.5 MILLION.TRANSACTION CLOSING IS EXPECTED BY END OF 2019.REMAINING 30% OF IT AUCTION WILL CONTINUE TO BE HELD BY PRESENT SHAREHOLDERS.WILL BECOME FIRST SERVICER IN ITALY SPECIALIZING IN CORPORATE LOANS WITH END-TO-END MANAGEMENT OF POSITION.IT AUCTION AND NEPRIX, ILLIMITY’S NPL SERVICER, WILL HAVE EUR 3.4 BILLION OF MANAGED ASSETS.