Portuguese bank Caixa Económica Montepio Geral (CEMG) signed a public deed for the sale of a non-performing loans (NPL) portfolio with a gross amount value of €239 million, in the form of a direct sale, to Mimulus Finance Dac, a company incorporated under the laws of Ireland, established in Dublin.

Signed on 27 December 2018, and following a competitive sale process, this agreement compromises a portfolio that includes approximately 10,000 contracts. In the not sent CMVM, the Portuguese Securities Market Commission, the banks explain that «the completion of this operation materializes Caixa Económica Montepio Geral’s strategy for the continuous reduction of non-performing assets».

Original Story:Jornal de Negócios | Diogo Cavaleiro
Photo: Montepio
Translation and Edition:Prime Yield