Rome, November 3rd, 2022 - doValue S.p.A. (“doValue”) communicates the completion of Project Virgo, a €450 million GBV secondary portfolio disposal to a fund invested into by the EOS Group.
The portfolio has been carved out from the Frontier I HAPS securitisation vehicle which has been managed by doValue since the beginning of February 2022.
The disposal, which was completed in the context of volatile market conditions, allows doValue to accelerate its collection activity in Greece whilst retaining the long-term servicing mandate on the €450 million GBV portfolio acquired by a fund invested into by the EOS Group. The transaction also allows to further diversify doValue’s institutional investor client base.
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.