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Unicredit to sell $1.3 billion of non-performing loans

UniCredit said on Tuesday it reached a deal with Cerberus European Investments to sell a portfolio of non-performing loans with a gross value of around 950 million euros ($1.3 billion).

Vladimir Weiss | Bloomberg via Getty Images

The transaction, which will have an impact on the lender's balance sheet in the first quarter of next year, is part of a strategy to sell assets, the Italian bank said in a statement.

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