Kruk to buy debts from UniCredit worth PLN 4 bln
15:42
ItaCapital s.r.l. based in Milan, a subsidiary of Kruk, has entered into binding agreements with entities belonging to the UniCredit Group in Italy – Milan-based UniCredit S.p.A. and Verona-based Arena NPL One S.r.l. – for the purchase of receivables from unsecured consumer loans with a total nominal value of around PLN 4 billion, Kruk announced.
“The agreement indicates the condition precedent, stating that the transfer of debt covered by the agreement to the buyer will take place subject to payment of the price. According to the agreement, the price will be paid by October 25, 2016,” Kruk's press release stated.
Kruk S.A. is the largest receivables management company in Poland. In 2015 it purchased and serviced debts worth PLN 8.9 billion in seven markets. It has been listed on the WSE since 2011.
