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Allen & Overy advises on the acquisition of an NPL portfolio

Allen & Overy has assisted Barclays in the acquisition, through a securitisation vehicle, of a portfolio of non-performing loans owed by debtors based in several European jurisdictions.

The portfolio has been sold by leading international financial institutions in the context of a competitive process involving a plurality of investors.

Allen & Overy has provided assistance in relation to the legal and regulatory aspects of the transaction with a team led by partner Pietro Bellone, with the support of senior associate Martina Gullino. Counsel Elia Ferdinando Clarizia has advised on tax matters. Lawyers of other Allen & Overy’s offices have dealt with the relevant aspects of the transaction in their respective jurisdictions.