Italian finance company Cerved Group SpA confirmed that it has mandated local lender Mediobanca - Banca di Credito Finanziario SpA to evaluate potential strategic alternatives for the corporate division within its directly controlled subsidiary, Cerved Credit Management Group Srl.
Cerved noted that the assessments are still at a preliminary stage and a final decision has not yet been taken.
Earlier, Cerved was said to be deliberating on selling its loan management division and focus on its credit information business, according to Reuters. The group was reported to be considering potential options after Banca Monte dei Paschi di Siena SpA withdrew from a 10-year servicing deal with Juliet SpA, which the Italian bank sold to Cerved and Quaestio Holding SA, to step up its bad loan reduction efforts.
The firm was also said to be in talks with Rome-based Credito Fondiario SpA regarding possible deals in July, while its joint attempt with U.S. private equity firms Elliott Management Corp. and Bain Capital LP to bid for a majority stake in Greek lender Eurobank Ergasias SA's financial planning services unit ultimately proved to be unsuccessful, according to the news wire.
