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Quaestio and Cerved sign an exclusivity undertaking for an industrial partnership in special servicing activities

Press Release

Quaestio Holding SA (“Quaestio”) has signed an exclusivity undertaking with Cerved Information Solutions SpA (“Cerved”) for the negotiation of an agreement which contemplates an industrial partnership  in special servicing activities. The agreement also envisages the joint acquisition of the credit servicing platform (a.k.a. “Juliet”) of Banca Monte dei Paschi di Siena SpA (“MPS”) with respect to which Quaestio has entered into exclusive negotiations with MPS, in consideration of its role as leading investor in the securitization of its NPL portfolio.

05 Jul 2017

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The MPS servicing platform has been managing the non performing loan book of MPS for a number of years in an effective manner and, in virtue of the acquisition by the joint venture between Quaestio and Cerved, would be significantly reinforced, thanks to the relevant contribution in terms of know how developed by both groups in the field of non performing loans.

The partnership underlying the exclusivity undertaking is based on the objective of creating a new entity which can assist banks in selling and/or outsourcing their NPLs, moving into the direction of an industrialised management of non performing loans, via the sinergistic combination of each party’s specific competences; as regards Quaestio, knowledge regarding bank capital structures, regulatory aspects and structured finance necessary to provide relevant consulting to banks; as regards Cerved, the professional competences in managing distressed bank loans and real estate assets on an independent basis.
The partnership has strategic relevance both for Cerved, which would lead to an important extension of its areas of operation, as well as for Quaestio, which would obtain an important instrument for the optimal management of the investments made through Atlante II and all other initiatives in the loan’s management that the company will launch in the following years.

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