Eurocastle Investment Ltd (EUIVF)

[Enterprising Investor]

Eurocastle Investment Limited : Eurocastle Receives Formal Regulatory Clearance to Acquire UniCredit Credit Management Bank (10/21/15)

Thomson Reuters ONE via COMTEX) -- Guernsey. 21 October 2015 - Eurocastle Investment Limited (euronext amsterdam:ECT) ("Eurocastle" or the "Company") announces that, together with other affiliates of Fortress Investment Group LLC, it has received formal regulatory clearance to acquire UniCredit Credit Management Bank S.p.A. ("UCCMB") from UniCredit. The acquisition includes a portfolio of non-performing loans ("NPLs") with a GBV of approximately EUR2.4 billion and an NPL servicing business (the "Servicer"). Eurocastle will acquire a 50% share of the deal for an equity investment of approximately EUR250 million, subject to customary closing adjustments.

UCCMB is the largest captive servicer in Italy with a banking license and approximately EUR34 billion assets under management and a wide network of branches throughout Italy. In addition to the acquisition of the NPLs and the Servicer, the transaction includes a 10-year servicing contract on existing NPLs with the right to service all of UniCredit's future NPLs with balances below EUR1 million generated in the 10-year period.

The transaction is expected to close in the coming weeks.

About Eurocastle

Eurocastle Investment Limited is a closed-ended investment company that owns Italian loans and real estate related assets, German commercial real estate and European real estate securities and loans. The Company is Euro denominated and is listed on Euronext Amsterdam under the symbol "ECT". Eurocastle is managed by an affiliate of Fortress Investment Group LLC, a leading global investment manager. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Eurocastle Investment Limited via Globenewswire

http://www.marketwatch.com/story/eurocastle-investment-limited-eurocastle-receives-formal-regulatory-clearance-to-acquire-unicredit-credit-management-bank-2015-10-21