Ashurst has advised UniCredit S.p.A. in relation to the disposal to Cerberus on non-recourse basis (pro soluto) of a non performing unsecured consumer and personal loans credit portfolio for an aggregate gross book value amount of about €950 million. The portfolio has been purchased by Cerberus pursuant to a securitisation transaction where Credito Fondiario S.p.A. has acted as sponsor and servicer.

The Ashurst team was led by Milan partner Gianluca Fanti and included associate Francesco Scebba.