Cerved Group S.p.A. (MTA: CERV, the “Company”), one of the largest information providers and credit servicers in Italy, has announced that the direct subsidiary Cerved Credit Management Group S.r.l. (“CCMG”) has acquired from Quaestio Holding S.p.A, at a price of Euro 43,250,000, 50.1% of the capital of Quaestio Cerved Credit Management S.p.A. (“QCCM”).
As an effect of the acquisition, CCMG is now the sole shareholder of QCCM, already fully consolidated within the Cerved Group, which carries out, via its subsidiary Juliet S.p.A. (“Juliet”), special servicing activities on non-performing loan portfolios.
With this acquisition, Cerved has anticipated reaching a 100% stake in QCCM, which was originally expected in 2021 in virtue of call options within the context of the industrial partnership between Cerved Group and Quaestio (as per press release on 2 August 2017). The purchase was financed using the group’s available cash balances.
Source: Cerved Group Press Release