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  1. phil
    April 22nd, 2014 at 6:50 am

    FT: KKR, Italian banks in talks to pool billions of euros of bad loans

    05:03 AM ET · UNCFF

    • UniCredit (UNCFF) and Intesa Sanpaolo (IITOF) are teaming up with KKR (KKR) and restructuring adviser Alvarez & Marsal to form a vehicle that could pool several billion euros of the Italian banks’ bad loans, the FT reports.
    • Last month, UniCredit formed an internal “bad” bank to house €87B ($120B) of loans, two-thirds of which are impaired. Shortly after, Intesa but €46B of assets into a new bad bank. Both companies have taken massive losses on the loans.
    var isMC=true; var adSize=’320×50′; var ord = Math.floor(Math.random()*10e12); var seekingalpha_ad_src=’http://ad.doubleclick.net/N6001/adj/sek.mobile/app;sz=320×50,320×250;x=x;tile=1;d=mobile;t=app;mcid=true;mcid=1683953;s=UNCFF;s=IITOF;s=KKR;’+dart_my_vocation_and_profiles()+’ord=’+ord+’;dev=ip?’; document.write(”);



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