The Italian Competition and Market Authority has resolved not to proceed with the investigation referred to the article 16, paragraph 4, of law no. 287/1990 relating to the transaction for the acquisition by Ifis Npl Investing S.p.A. of the exclusive control of Revalea S.p.A., in particular through the purchase of the entire share capital.
According to the AGCM, the transaction in question therefore does not significantly impede effective competition in the markets of interest of the two companies and does not lead to the establishment or strengthening of a dominant position.
Based on the agreements reached between the parties, Revalea’s NPL loan portfolio thus becomes available to the Ifis group, while through a servicing contract, the management of the collection of the entire portfolio will be entrusted to MB Credit Solutions.
Ifis Npl Investing S.p.A is a primary player in the market for the purchase of NPE non-performing loans owned by Banca Ifis, while Revalea S.p.A. is a company belonging to the Mediobanca group, established at the end of 2022 through the demerger of the Npl branch of another company of the group (MB Credit Solutions S.p.A.); through that transaction, the business branch relating to the purchase and management of NPL portfolios acquired in previous years was transferred to Revalea, while the servicing activity on behalf of third parties remained with MB Credit Solutions.
Download here the AGCM document
Managing Director of Credit Village, Roberto Sergio has more than 20 years of experience in NPL and distressed debt in the Italian and International market. He is the editor of the NPL column in Credit Village Magazine and the director of Credit Village's National NPL Market Observatory.