Montepio sells €105M portfolio to Whitestar

Montepio sells €105M portfolio to Whitestar

Both parties reached an agreement one day before the sale of another 321 million euro portfolio to the same company in July. The deals were closed with two companies belonging to Whitestar.

According to Eco, on the 26th of July Montepio announced the sale of a 13.000 NPL portfolio worth 321 million euro – Atlas’s porfolio – to company Panorama Jubilante, from group Arrow, owner in Portugal of Whitestar, with a 6 million euro loss. The sale was concluded on the 12th of July.

One day before, the sale of this portfolio with a 105 million euro net value to Façanha Cristalina was closed, revealed the statement of accounts quoted by the newspaper. Designated as Brick, this portfolio is not yet closed, with the deed signing process still undergoing.

The two companies were created through the service Empresa na Hora (Company in one hour) and are owned by group Arrow Global, which as its sole administrator João Bugalho, Whitestar’s CEO.

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