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Kutxabank in Talks on Its Bad Bank’s Sale With Two Funds

11/11/2014 – Expansión

Kutxabank negotiates on transfer of Neinor Barria, its ‘bad bank’, with Goldman Sachs and Lone Star. The funds offer €800 million for a majority stake in the arm, managing around fifty housing developments proceeding from Cajasur and Kutxa.

The sale is reaching its final stage after selection of the two funds that submitted best non-binding bids.

The final price will depend on the transaction’s perimeter.

 

Original article: Expansión (by J. Zuloaga & M. Á. Fuentes)

Translation: AURA REE