Banco BPM selects four offers for secured bad loan sale


Reuters

SANT'ELPIDIO, Italy, April 21 (Reuters) - Italy's
third-largest bank Banco BPM <BAMI.MI> has selected four bidders
for the sale of a bad loan portfolio which it expects to
conclude in four to five weeks, the head of the lender's
strategic committee said on Friday.
    The four investors shortlisted are Cerberus, Bain Credit,
Blackstone <BX.N> and Algebris, Banco BPM's Pier Francesco
Saviotti said on the sidelines of a Tod's <TOD.MI> shareholder
meeting, confirming a press report.
    Banco BPM, born in January from the merger of Banco Popolare
and Popolare di Milano, is looking to sell a portfolio of
secured bad loans with a gross book value of 700-800 million
euros.

 (Reporting by Alberto Sisto, writing by Valentina Za,)
 ((valentina.za@thomsonreuters.com; +39 02 6612 9526;))

Keywords: BANCO BPM BAD LOANS/SALE (URGENT)



This article appears in: World Markets , Stocks , Economy , 401k , Banking and Loans , Retirement
Referenced Symbols: BAMI , BX , TOD


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