Prelios goes to X3, the closing is underway
While he awaits the outcome of his complaint in the case of Crt Foundation, Fabrizio Palenzona is finalizing an important financial operation far from Turin, with a value of 1.35 billion euros, with the support of Goldman-Sachs.
The operation concerns the closing of Preliosa Milanese financial asset management company of which Palenzona is president. With over 40 billion euros under management, including bad debts, probable defaults and real estate funds, Prelios was acquired by X3 Groupcontrolled by the Ion Group Of Andrea Pignataro (second richest man in Italy).
According to the statements of Palenzonathe acquisition by Ion will allow to Prelios to strengthen its leading position in the servicing and asset management sector.
Palenzona expressed great satisfaction with the operation, underlining how this acquisition will allow the company to consolidate its leadership, manage a significant portfolio of bad debts (UTP and NPL) and real estatecontributing to financial stability and asset quality in the market. He also commented that the credit servicing sector in Italy is experiencing a period of significant consolidation, driven by the need to improve operational efficiency and exploit economies of scale.
The financial operation was supported by a consortium of banks led by Unicredit, Intesa Sanpaolo And BNP-Paribaswith Goldman-Sachs International who acted as financial advisor. Legal advisors include the firm Pedersoli-Gattai-Chiomentiwith the participation of Bruno Gattaiformer skier and sports commentator known for his reports on Alberto Tomba’s races.
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