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UniCredit to sell €170M nonperforming loan book

UniCredit SpA, through UniCredit Leasing SpA, agreed to sell a portfolio of nonperforming loans to Guber Banca SpA on a non-recourse basis.

The NPL book consists of unsecured Italian leasing loans with a gross book value of €170 million as of the end of July. UniCredit said the sale is expected to be reflected in its fourth-quarter results.

White & Case LLP advised UniCredit and UniCredit Leasing on the deal.