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M&A Activity • Jul 23, 2024
4145_rns_2024-07-23_9acd36d5-7d17-4325-af6d-10e79b108bfb.pdf
M&A Activity
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| Informazione Regolamentata n. 1967-70-2024 |
Data/Ora Inizio Diffusione 23 Luglio 2024 19:59:10 |
Euronext Star Milan | |
|---|---|---|---|
| Societa' | : | DOVALUE | |
| Identificativo Informazione Regolamentata |
: | 193706 | |
| Utenza - Referente | : | DOVALUEN06 - Della Seta | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 23 Luglio 2024 19:59:10 | |
| Data/Ora Inizio Diffusione | : | 23 Luglio 2024 19:59:10 | |
| Oggetto | : | DOVALUE GREECE ACHIEVES MILESTONE WITH €2.7 BILLION IN NEW SLA CONTRACTS |
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| Testo del comunicato |
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PRESS RELEASE
DOVALUE GREECE ACHIEVES MILESTONE WITH €2.7 BILLION IN NEW SLA CONTRACTS
Rome, July 23rd, 2024 – doValue S.p.A. ("doValue" or the "Company") is pleased to announce that its subsidiary, doValue Greece Loan and Credit Claim Management Company S.A. ("doValue Greece"), has been assigned the servicing of four portfolios. The relevant agreements have been entered into with toptier investors and pertain to the onboarding, management, and collection of an aggregated portfolio consisting of approximately 174,000 performing and non-performing loans (NPLs) with total claims of approximately €5.6 billion, and a Gross Book Value (GBV) of approximately €2.7 billion, involving over 131,000 debtors (both retail and corporate).
All of these portfolios were already serviced by doValue Greece under different Service Level Agreements (SLA) and have now been transferred by the previous owners to new investors who have confirmed to retain doValue Greece as the servicer. As usual with the secondary market deals, doValue will support securing the execution of the business plans for the previous owners, and at the same time accrue fees from the sale of the claims to the new investors. Moreover, doValue, under the new servicing agreements, will be entitled to receive from new investors fees for the servicing of the ongoing outstanding claims. These deals are a testament to the quality of service provided by doValue Greece and will further broaden its customer base.
doValue Greece, having successfully completed all necessary systemic procedures, has begun actively servicing these portfolios, implementing a wide range of actions and initiatives.
Already the leading servicer in Greece based on total claims, this new achievement firmly establishes doValue Greece as the market leader in new business for 2024 for both primary and secondary deals. This leadership on secondary market deals will likely develop additional revenue streams from advisory services to investors, as envisaged in the 2024-2026 business plan.
With these mandates, doValue has onboarded or committed to new contracts in excess of €5.1 billion (GBV) year to date. This puts the Company very close to meeting its annual target of €6 billion (GBV) for new mandates, as set out in its 2024-2026 business plan, already after seven months.
The doValue Group is the leading operator in Southern Europe in credit and real estate management services. With an experience of more than 20 years and approximately €116 billion in assets under management (Gross Book Value) as at 31 December 2023 across Italy, Spain, Portugal, Greece and Cyprus, the doValue Group's business contributes to the economic growth by fostering the sustainable development of the financial system. The doValue Group offers an integrated range of credit management services: servicing of Non-Performing Loans (NPL), Unlikely To Pay (UTP), Early Arrears, performing loans, Master Legal, Due Diligence, data processing and Master Servicing.
The shares of doValue are listed on the STAR segment of Euronext Milan (EXM) and, in 2023, the Group reported Gross Revenue of €486 million and EBITDA excluding non-recurring items of €179 million.
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Contacts
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Image Building doValue
Media Relations Investor Relations Raffaella Casula (+39 348 306 7877) Daniele Della Seta (+39 06 4797 9184) Francesca Alberio, Matilde Tagliavini (+39 02 89011300) [email protected] [email protected]