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Legal Proceedings Report • Oct 13, 2022
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Legal Proceedings Report
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| Informazione Regolamentata n. 1967-60-2022 |
Data/Ora Ricezione 12 Ottobre 2022 18:48:00 |
Euronext Milan | |
|---|---|---|---|
| Societa' | : | DOVALUE | |
| Identificativo Informazione Regolamentata |
: | 168169 | |
| Nome utilizzatore | : | DOVALUEN08 - Goretti | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 12 Ottobre 2022 18:48:00 | |
| Data/Ora Inizio Diffusione presunta |
: | 13 Ottobre 2022 07:15:03 | |
| Oggetto | : | Signing of Legal Services contract with Sareb |
|
| Testo del comunicato |
Vedi allegato.
PRESS RELEASE
SIGNING OF LEGAL SERVICES CONTRACT WITH SAREB
Rome, October 13th, 2022 – doValue S.p.A. ("doValue", the "Company or the "Group") is pleased to communicate that, following the formal set up of its Legal Services business unit in Spain, it has signed, through its subsidiary Altamira Asset Management, an important contract with Sareb.
Sareb has in fact decided, following the reassignment of the servicing contract in February 2022, to avail itself of qualified operators for the legal support of its portfolio of assets, as a separate specialised service from the commercial management of such assets. Under the terms of the contract, doValue will manage from a legal point of view the portfolio that was previously managed by its subsidiary Altamira Asset Management, consisting of up to 40% of Sareb's total legal proceedings.
The specific services envisaged by the contract signed with Sareb include the preparation of the documentation ahead of the initiation of specific legal proceedings, as well as the monitoring and control of the collection until disposal (including preparation and monitoring of the auction activity). The contract envisages the management of more than 4,500 legal proceedings.
The contract is in line with the doValue Group strategy of further diversifying its product offering and it is an integral part of the growth plan of doValue's activities in Spain.
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doValue is the main operator in Southern Europe in the field of credit and real estate management for banks and investors. With more than 20 years of experience and approximately €150 billion of assets under management (Gross Book Value) across Italy, Spain, Portugal, Greece and Cyprus, doValue Group's activities contribute to the economic growth by promoting the sustainable development of the financial system. With its 3,200 employees, doValue offers an integrated range of services: servicing of Non-Performing Loans (NPL), Unlikely To Pay (UTP), Early Arrears, and performing credit, real estate servicing, master servicing, data processing and other ancillary services for credit management. The shares of doValue are listed on the STAR segment of Euronext Milan (EXM) and, in 2021, the Group reported Gross Revenues of approximately €572 million and EBITDA excluding non-recurring items of approximately €201 million.
Contacts
Image Building doValue Media Relations Investor Relations Rafaella Casula (+39 348 306 7877) Alberto Goretti Serena Zagami (+39 02 89011300) +39 02 83460127 [email protected] [email protected]