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CaixaBank, BBVA & Sabadell Present Their Offers For Barclays España

13/06/2014 – Expansion

The game for the Spanish business of Barclays continues. Yesterday, the countdown for submitting non-binding offers started off. Allegedly, CaixaBank showed the “greatest interest” in acquiring the lot, next to BBVA, Banco Sabadell and Apollo fund.

In turn, the odds are low that Popular and Bankinter will attend the next stage.

In the nearest time, Barclays Capital will have to decide how many bidders will be let in the core data room of Barclays España.

The sale includes a €20 billion worth of assets, portfolio of 575.000 clients, €9 billion in deposits and €18 million net value of loans.

Banks are mostly attracted by high returns and large scope of properties in Madrid, whereas funds seek entering banking business with discount and grabbing the extraordinary portfolio of Barclays España.

 

Original article: Expansión (by J. Zuloaga)

Translation: AURA REE