Lone Star and others bid for Monte dei Paschi's bad loan platform - sources

Lone Star and others bid for Monte dei Paschi's bad loan platform - sources
 

Lone Star, Christofferson Robb & Co (CRC) and other specialised investors have presented non-binding offers to buy a platform that will manage part of Monte dei Paschi di Siena's (BMPS.MI) bad loans, three sources close to the matter said.
The Tuscan bank is selling its 27.7 billion euro (£23.84 billion) portfolio of loans to insolvent borrowers in a complex securitisation scheme, part of a broader rescue plan aimed at addressing regulatory concerns over its financial stability.
Monte dei Paschi is working with Italian investment bank Mediobanca (MDBI.MI) to set up a platform to manage... read more

 
30 September 2016 in Business, Views: 43
Source: Reuters
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