Sabadell´s Real Estate Branch Heading Towards the Stock Market

24/02/2014 – El Periodico

Sabadell targets at expanding Solvia to the grand real estate company importance and then, “logically”, at listing it in the stock market. (…).

The strategy of Miquel Montes breakes with the general tendency within the sector, where banks would rather shed their real estate branches. However, the idea is no novelty as during the ´92 recession in the sector, when large companies that continued extensive sales of the awarded assets finally became listed. (…). So wishes to achieve Sabadell.

When it comes to the transactions carried out within the financial sector, most of them refered to servicer platforms that manage and trade assets transferred to Sareb. Funds like Apollo, Cerberus, Blackstone, Värde Partners and Kennedy Wilson invest actively in the real estate market. (…).

Sabadell takes another path, rejecting offers for its awarded assets. The bank aims at selling more than 18.000 in annual terms, cutting in management costs and improving its website. (…).

 

 

Original article: El Periódico (Max Jiménez Botías)

Translation: AURA REE

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