Banco Popular Agrees to Sell 51% of Its Card Issuing Business to Värde

05/08/2014 – Cinco Días

Banco Popular has reached an agreement to sell to the American firm Värde Partners 51% of its Bancopopular-e credit card business, according to the Spanish bank today.

In a statement sent to the Spanish Securities & Exchange Commission (CNMV), BancoPopular clarifies that the details of the corresponding administrative approvals are still outstanding for the pending transaction.

In December 2013, Banco Popular signed an agreement for the sale of its real estate business, Aliseda, to Värde Partners and Kennedy Wilson for 815 million euros.

Original article: Cinco Días
Translation: Aura REE