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Varde, Barclays, Guber Banca Acquire Italian NPLs

Värde Partners, Barclays investment bank and Guber Banca announced have acquired a portfolio of non-performing loans originated by 53 cooperative banks, rural banks and popolari banks spread throughout Italy. The gross book value of the portfolio is €1.397bn, and comprises more than 9,000 positions, with 39% of the portfolio secured and the remaining 61% unsecured. The loans were originated mainly in the North-East and in the North-West of Italy. Francesco Guarneri, CEO – Guber Banca commented: “In our 27-year history, we have built unique expertise in the valuation and management of non-performing loans. We have developed proprietary technologies and implemented highly structured processes...