Credito Valtellinese S.c. (“Creval”) and Cerved Information Solutions S.p.A. (“Cerved Group”; MTA: CERV), parent holding company of the largest credit information player in Italy, via its subsidiary Cerved Credit Management Group S.r.l. (“CCMG”), have signed an agreement for the development of a long term industrial partnership for the management of non-performing loans (NPLs).
CCMG has 670 dedicated employees is the leading independent operator in the credit servicing sector and manages in excess of 10.3 billion euros of non-performing loans on behalf of banks, financial institutions and institutional investors. CCMG boasts a unique competitive advantage, as it benefits from the information database of the Cerved Group (official data, proprietary data, payment experiences, negative events, cadastral reports, real estate appraisals, etc.) coupled with its experience in the credit management sector. CCMG is controlled by Cerved Group S.p.A., the leading player in the analysis of credit risk in Italy and one of the major credit rating agencies in Europe. Cerved Group S.p.A. is controlled by Cerved Information Solutions S.p.A., which recently floated on the Milan Stock Exchange and is in turn controlled by the private equity player CVC Capital Partners.
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Source: Cerved Group