General Electric, RBS, Credit Agricole to sell non-performing Italian debt

Market revival: A file picture shows the logo of GE in France. With Italy’s economy expanding again, investors can expect more success in efforts to recover on these debts. – AFP

MILAN: General Electric Co, Royal Bank of Scotland Group Plc and Credit Agricole SA are seeking to sell about four billion euros (US$4.5bil) of non-performing Italian corporate and consumer loans, three people with knowledge of the matter said.

The offer, the biggest in years, is a sign that the market for this debt has picked up since the introduction of laws this year making it easier for creditors to seize assets.