Twitter LinkedIn
    Friday, January 27
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals & Transactions»Italy’s Cerved in advanced talks to clinch debt collection arm deal: sources
    Deals & Transactions

    Italy’s Cerved in advanced talks to clinch debt collection arm deal: sources

    March 8, 2021Updated:March 8, 20211 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    Euro cash banknotes on a dark wooden background
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Italian credit group Cerved is in advanced talks with U.S. investment firm Centerbridge to clinch the long-awaited sale of its debt collection arm which is valued at about 400 million euros ($476.68 million)

    The unit has also drawn interest from Italian real estate and credit management firm Prelios and other private equity funds including Apollo and Apax, the sources said, speaking on condition of anonymity.

    Centerbridge is the frontrunner in the discussions and could clinch a deal in the coming weeks, possibly paving the way to a full takeover of Milan-listed Cerved which has been on the radar screen of several heavyweight buyout funds in recent years, the sources said.

    Cerved, Prelios and Apax declined to comment while Centerbridge and Apollo were not immediately available for comment.

    Cerved, which has a market value of 1.4 billion euros, came close to selling its credit management unit to Intrum, Europe’s biggest loan recovery firm, in February 2020 – just weeks before a deadly coronavirus outbreak in northern Italy.

    Read more 

    Source: Reuters

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Capital deals and transactions Investments
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    University of California invests $4 bn in redemption-stricken REIT

    January 3, 2023

    Euroclear moves into $9.8 trillion private asset market with Goji buy

    December 21, 2022

    Warburg Pincus acquires K2 Insurance Services from Lee Equity Partners

    December 6, 2022

    CAI raises over $1B for inaugural fund and co-investment programme

    November 18, 2022

    Comments are closed.

    Other Articles

    East Midlands Reports Six-year High for Private Equity-backed Deals at £989m

    January 10, 2022

    Partners Group invests $500m in Energy-as-a-Service company Budderfly

    July 13, 2022

    Wall Street major Blackstone in exclusive talks to acquire majority stake in ASK Group

    August 24, 2021

    Kartesia supports Stirling Square with acquisition of Sustainable Agro Solutions

    July 12, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?