2 December 2019 – Softbank’s Centricus investment fund is rethinking its expected acquisition of Haya Real Estate from Cerberus. The US firm originally valued Haya at one billion euros, though it dropped its asking price due to doubts regarding Haya’s contract with Sareb.
Despite Haya’s success in renewing its management contract with the bad bank, Haya’s revenues could still be reduced by 50%. Sareb also reduced the agreed-upon fixed fees and payments in return for variable payments. At the same time, Softbank as recently needed to inject large amounts of funds to save its investment in the troubled WeWork.
Original Story: Eje Prime
Adaptation/Translation: Richard D. K. Turner