Cerved Information Solutions and Banca Monte dei Paschi di Siena Deadline Expires

Expiry of the deadline for fulfillment of the conditions precedent for the acquisition of the NPLs servicing platform of BMPS; talks underway

With reference to the envisaged acquisition of the NPLs servicing platform of Banca Monte dei Paschi di Siena S.p.A. (a.k.a. Project Juliet), as per the binding offer presented by Cerved Group S.p.A. on 13 November 2016 and object of a press release released on 14 November 2016, Cerved Information Solutions S.p.A. (MTA: CERV) parent holding company of the Cerved Group, the largest information provider and credit servicer in Italy, and Banca dei Monte dei Paschi di Siena S.p.A., inform that (i.) the conditions precedent required by the contractual documentation to close the transaction were not met within the long-stop date of 28 February 2017, therefore the underlying agreement will be no longer effective, and that (ii.) Cerved Information Solutions S.p.A. has expressed its willingness to extend the long-stop date until 30 June 2017.

Within this context and in any event, Cerved Information Solutions S.p.A. and Banca Monte dei Paschi di Siena S.p.A. are currently in talks to evaluate alternative forms of industrial partnership in the field of management of non-performing loans.

Source: Cerved Press Release