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The sale of Bankia Habitat reaches its final stage.

Bankia continues getting rid of assets in order to comply with Brussels´ demands. The next operation could be the closure of the sale of Bankia Habitat, the real estate subsidiary. The institution presided over by José Ignacio Goirigolzarri started this process at the beginning of the year and has awoken the interest of more than twenty international funds. Financial sources explain that there remain only three candidates, among them Cerberus and Centerbridge.

The acquirer of Bankia Habitat will assume the company, their headquarters in Madrid and Valencia, the technological platform for the management of awarded assets and 500 employees. The properties and the credit for developers in the portfolio of Bankia Habitat (for 2900 and 2600 million Euros) will stay in the bank, which will sign a management agreement with the new owner. This should also take charge of the assets that Bankia transferred to Sareb.

 

Source: Expansión