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CX to Be Sold Still Before August

26/06/2014 – Expansion

Third time lucky. The motto has been taken by the Frob (Fund for Orderly Banking Restructuring) which believes the acquisition of CatalunyaBanc (CX) may be completed still before August.

First, five funds will present their final offers for the €6.5 billion mortgage portfolio at the beginning of July. Binding offers for the rest of the entity shall arrive before the 14th July.

“The turnout both for the loans and the bank is satisfactory”. Mariano Rajoy, Spain´s Prime Minister, assured the sale process will be “fair, transparent and competitive”.

 

Original article: Expansión

Translation: AURA REE

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