18/10/2016
Current Report No. 99/2016: Claim assignment agreements executed on the Italian market with entities from UniCredit Group
Further to Current Report No. 89/2016 of September 28th 2016, the Management Board of KRUK S.A. (the Company) announces that today, October 19th 2016, the Company’s subsidiary ItaCapital s.r.l. of Milan (ItaCapital, the Buyer) has signed binding agreements with entities from the UniCredit Group of Italy – UniCredit S.p.A. of Milan and – Arena NPL One S.r.l. of Verona (Agreements, the Sellers).
The Agreements provide for the acquisition of unsecured consumer loan debt with a total nominal value of approximately EUR 938m (PLN 4bn, translated at the mid-exchange rate quoted by the National Bank of Poland for October 19th 2016).
The Agreements are subject to a condition precedent that the debts covered by the Agreements will be assigned to the Buyer upon payment of the Price. Pursuant to the Agreements, the Price will be paid by October 25th 2016. The Agreements do not provide for any contractual penalties. Other terms and conditions of the Agreements do not differ from those commonly used in agreements of such type.