Government Invites Spanish Businessmen to Buy Sareb´s Property

21/02/2014 – El Confidencial Digital

The Minister of Economy readies to support the activity of the bad bank. Hints how to shed the stock accumulated in Sareb´s balance arrive from various sectors. According to sources from the Government, the President pursues at facilitating the property sales via several instances.

(…) The State has already contacted great fortune holders from Spain known for their current interest in the real estate market and the need of Sareb to shed the stock. The potential businessmen are Amancio Ortega (Inditex), Juan Miguel Villar Mir (OHL) and Juan Abelló.

Precisely, Amancio Ortega has already acquired the old trade premises of Banesto in the corner of  the Plaza de Cataluña Square and the Paseo de Gracia Street in Barcelona from Sareb for €44 million. (…).

Luis de Guindos is unhesitating in his support for the bad bank. Due to the fact that many domestic and foreign investors have already bought many buildings from Sareb, he wishes to give priority for Spanish fortunes.


Original article: El Confidencial Digital

Translation: AURA REE