Italy’s AMCO to buy 1.4 billion euros of non-performing leasing credits from Intesa

Italy’s state-owned bad loan specialist AMCO said on Friday it had signed an agreement with lender Intesa Sanpaolo (ISP.MI) to purchase a portfolio of non-performing leasing credits with a gross value of around 1.4 billion euros ($1.46 billion).

The deal will be finalised by the end of this year.

AMCO added it had signed another contract with Intesa to buy a portfolio of single-name unlikely-to-pay loans with a gross value of 120 million euros.($1 = 0.9578 euros)