Italian leasing and factoring company Banca Italease has chosen
Lazard to find potential buyers for its 400m-euro real estate
portfolio, reported the Italian daily, Il Sole 24 Ore.
The portfolio of buildings and land is spread across Italy’s
major cities and towns and could be of interest to domestic or
foreign real estate operators. Italease is also weighing up the
possibility of selling other non-strategic assets such as minority
shareholdings in companies that are not linked to leasing and
factoring.
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Banca Italease suffered a €500m loss from derivatives trading
last year, forcing its major shareholder, Banco Popolare to look
for strategic partners for Italease.
Banco Popolare intends to shift its focus to the consumer and
retail banking business.
