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UniCredit Leasing signs deal with 4 firms to market €1.5B real estate portfolio

UniCredit SpA unit UniCredit Leasing SpA concluded an agreement with four parties to market and liquidate its portfolio of foreclosed real estate generated by leasing contracts that resulted in repossession.

The agreement involves Sistemia SpA, Yard SpA, IT Auction Srl and UniCredit Leasing subsidiary UniCredit Subito Casa. The portfolio comprises industrial, office, tourism and residential properties, among other asset classes, and is valued at approximately €1.5 billion.

The transaction was initiated in April and is part of UniCredit's group strategy to reduce nonperforming exposures.