From Today, Banks & Funds May Submit Offers to Barclays

12/06/2014 – Expansion

Today the investors interested in buying the Spanish business of Barclays are going to show their hands. The British bank will receive non-binding offers for over €20 billion worth of assets subject to the bidding.

After having been studying the assets at the data room over the past two weeks, such big entities as CaixaBank, Sabadell, BBVA, Popular and Bankinter, as well as big-name funds like Apollo and Centerbridge are expected to present the range of equity value and explain what they are going to do with Barclays España in the future.

While CaixaBank and BBVA keep poker faces, it is clear that Sabadell, Popular and Bankinter are very eager to acquire the business. However, the ethusiasm of the latter has been put out on news private banking will not be included in the sale.

Apollo seeks expanding its Evo Banco network in Spain and the fund wishes to manage the property loan portfolio at Altamira. In turn, Centerbridge could reinforce its position in the country and compete with Spanish entities.


Original article: Expansión (by J. Zuloaga)

Translation: AURA REE