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Report: Fortress among two left in bidding for UniCredit bad loan unit

  • The two shortlisted bidders, reports Reuters, are Lone Star and a consortium of which Fortress Investment Group (FIG +0.1%) is a part, and UniCredit (OTCPK:UNCFF, OTCPK:UNCFY) is expected to pick a winner by mid-October.
  • The unit manages more than €40B of non-performing loans belonging to the bank and to third parties, and the sale - which includes both the loan portfolio and the platform - could yield UniCredit €700M-€800M.

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