Deals
Elliott-Controlled Firm Considers Italian IPO
- Current investors will remain shareholders in Rome bank
- Credito Fondiario involved in several big NPL deals in Italy
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Credito Fondiario SpA, an Italian financial services firm controlled by U.S. activist investor Elliott Management Corp., is considering a listing on the Milan stock market as soon as the second half of the year.
Credito Fondiario is a bank focused on purchasing and managing debt and is involved in several deals with lenders that are shedding bad loans. Italy’s banks have stripped more than 100 billion euros ($114 billion) of non-performing loans from their balance sheets in the last three years, making the country the most active in Europe’s soured debt market.