doValue S.p.A. (0RTI.IL)
| Previous close | 1.9970 |
| YTD return | N/A |
| Expense ratio (net) | N/A |
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| Morningstar rating | N/A |
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| Beta (5Y monthly) | N/A |
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- Reuters
Italy's bad loan manager doValue to buy rival Gardant, shares surge
Italy's doValue has agreed to buy rival Gardant in a cash-and-stock deal, the country's biggest bad loan company said early on Friday, bulking up in the face of ebbing flow of impaired debt due to banks' surprisingly healthy loan books. Impaired loans at European banks have held at very low levels thanks to government support measures that cushioned the shocks from the pandemic and energy crisis. Faced with the dearth of new bad loan sales by banks and higher borrowing costs, debt collectors have been under pressure to join forces.
- Reuters
Elliott and SoftBank set to merge Italian bad loan businesses
MILAN (Reuters) -U.S. fund Elliott Management and Japan's SoftBank Group are set to merge their Italian bad loan businesses in a cash-and-shares deal, SoftBank-backed doValue said on Thursday, as the industry consolidates to weather tough times. Impaired loans at European banks have held at very low levels thanks to government support measures that cushioned the shocks from the pandemic and energy crisis. The non-binding accord to combine Elliott's Italian bad loan manager Gardant with doValue would hand the U.S. fund 20% of the combined business, doValue said.
- Reuters
DoValue plans to diversify beyond non-performing loans after 19 million euro net loss
MILAN (Reuters) -Italian debt recovery company doValue plans to diversify its sources of revenue beyond non-performing loans(NPL), its CEO said on Friday, after it reported a 19 million euro ($20.57 million) net loss for 2023. Healthier bank balance sheets mean levels of impaired loans remained low, it said, reporting a 10% drop in collections ahead of the presentation of a new business plan on March 21. "Diversification strategy is key to our resilience and long term profitability", CEO Manuela Franchi said on a conference call with analysts.
