10 September 2019
The US-fund Cerberus is near to completing its planned sale of its servicer, Haya Real Estate. Centricus, a London-based fund backed by Softbank, is considered the leading contender to acquire the asset. Both firms declined to comment.
Market sources believe that the firms may finalise the transaction in the coming days. The amount of the sale partly depends on Haya’s renegotiation of its contract with Sareb. Cerberus had initially planned a stock market listing for its servicer, but doubts regarding that renegotiation led the US fund to shelve those plans.
The US fund then opted to sell the service, and in the early summer, Cerberus received three competing offers for Haya, estimated to be around 700 million euros, from doBank, Centerbridge and Centricus.
Original Story: La Información – Pepe Bravo
Adaptation/Translation: Richard D. K. Turner