(Telestock) – X3 Groupa company controlled by the ION Group of the Italian financier Andrea Pignataro, has announced the Prelios acquisition closingfor 1.35 billion euros.
Founded in 1990 in Milan, Prelios is leader in Italy in alternative asset management, servicing and specialized real estate services, with more than 40 billion euros of assets under management including non-performing loans, probable defaults and real estate funds.
“The positive conclusion of this long journey is a great satisfaction and fills us with enthusiasm and responsibility,” he commented. Fabrizio Palenzona, President by Prelios – The acquisition by ION will enable Prelios to consolidate its leadership role in the servicing and asset management sector. The company manages a significant portfolio of non-performing loans (UTP and NPL) and real estate assets, which help maintain financial stability and asset quality in the Italian financial and real estate market. The transaction is part of a broader strategy aimed at improving asset management and decision-making efficiency through the use of data.
“The credit servicing sector in Italy is going through a significant consolidation phasedriven by the need to improve operational efficiency, exploit economies of scale and expand service capabilities in a maturing market that requires new, more sophisticated and advanced service offerings – he added – Thanks to ION all this will be possible”.
Unicredit, Intesa Sanpaolo And BNP-Paribas led the consortium of banks, which also includes BPM Bank, Standard Chartered And Mediobancawho are financing X3 for operation.