Intesa, UniCredit sign MOU on restructured loans with KKR

martedì 22 aprile 2014 08:59
 

MILAN, 22 aprile (Reuters) - Italy's top two banks UniCredit and Intesa Sanpaolo have signed a memorandum of understanding with U.S. private equity firm KKR and turnaround specialist Alvarez & Marsal to better manage a restructured loan portfolio.

The companies said in a joint statement on Tuesday the project entailed active management of the selected assets and the injection of fresh financial resources.

The partnership was still being discussed and more details would be disclosed as the deal progressed, they said. (Reporting by Valentina Za; editing by Agnieszka Flak)