RPT-POINT 1-UniCredit does not comment on speculation companies in … – Reuters Italy

       

(Adds charge Ghizzoni)

       

MILAN, April 10 (Reuters) – UniCredit does not comment on the possibility of printing on the companies involved in the project loans in restructuring with Intesa Sanpaolo & lt; ISP, MI & gt ;, Kkr and Alvarez & amp; Marsal who yesterday got the go-ahead by the board of the institute.

       

‘As a spokesman says, referring to a report in today’s Il Messaggero.

       

“Yesterday,” said the spokesman, “the Board of Directors of UniCredit has given the go ahead to the scheme operation. However, the portfolio has not been the subject of any agreement with Kkr and is among the items of discussion still ongoing . We do not comment, therefore, in any way, the press articles on hypothetical corporate names, as a bank, we keep under the strictest confidentiality. “

       

The Roman newspaper writes that the project K-Equity part with eight companies and 930 million credits. The companies already chosen would Riello and Ferroli, whose turnaround will be managed by Kkr. The other companies identified would Comital Saiag, Burgo, Orsero, Datamat, and Pininfarina Alfa Park.

       

Yesterday, the CEO of UniCredit Federico Ghizzoni explained that the target of the project is “medium-sized companies perfoming” and that it is not a fund “aimed at small businesses.” The logic of the investment is not that of a private equity investment because it provides times longer, he added. Ghizzoni spoke of a vehicle’s value between 1 and 2 billion.

       

Intesa says The Messenger, “would convince UniCredit to raise the ceiling to 1.5 billion.”

       

Last week, a source close to the situation had told Reuters that the hypothesis on the table involves the creation of a special purpose vehicle to which UniCredit and Intesa bring their claims that they have selected. The vehicle will to their securitization and the senior tranche will be signed by a second vehicle part by Kkr and Alvarez & amp; Marsal respectively with 80% and 20%. It is not excluded that Intesa and UniCredit can enter the second vehicle. Alvarez & amp; Marsal will accompany companies, whose claims will be covered by the agreement, in a turnaround phase.

       

The signing of the agreement is expected by the end of the month. Last week, sources close to the situation have reported that by mid-April Intesa, UniCredit, Kkr and Alvarez & amp; Marsal would meet to review progress on the project and the final signature could slip to the second half of the month. More …