UnipolReC S.p.A. agreed to acquire €1.3 billion NPL portfolio from BPER Banca S.p.A. (BIT:BPE) and Banco di Sardegna S.p.A. (BIT:BSRP) for €130 million on February 6, 2019. UnipolReC S.p.A. signed an agreement to acquire €1.3 billion NPL portfolio from BPER Banca S.p.A. (BIT:BPE) and Banco di Sardegna S.p.A. (BIT:BSRP) on February 7, 2019. In a related transaction, BPER Banca S.p.A. agreed to acquire Unipol Banca S.p.A. from Unipol Gruppo S.p.A. and UnipolSai Assicurazioni S.p.A. for €220 million. The deal is subject to obtainment of regulatory authorizations, the approval by the competent antitrust authorities, the approval from Unipol's board, the approval from BPER's board and the approvals from the boards of all the other parties involved. As of February 7, 2019, the transaction was approved by boards of all the involved parties. The transaction is expected to close in the third quarter of 2019. The transaction will have no meaningful impacts on BPER Banca's income statement. Citi acted as the financial advisor, while Legance Avvocati Associati and Orrick Herrington & Sutcliffe acted as legal advisors for BPER. Barclays acted as financial advisor for Banco di Sardegna and BPER Banca.

UnipolReC S.p.A. completed the acquisition of €1.3 billion NPL portfolio from BPER Banca S.p.A. (BIT:BPE) and Banco di Sardegna S.p.A. (BIT:BSRP) on July 31, 2019.