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Blackstone in exclusive talks with Banco Popular

01 August 17 - RE+D Magazine
Blackstone in exclusive talks with Banco Popular

COMPANIES

IBI Group

Consultant - GREECE

Savills

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Blackstone is in exclusive talks to buy a majority stake in Banco Popular’s property portfolio, a collection of assets that helped bring about the near-collapse of the Spanish lender earlier this summer.

 

The bank said on Monday, according to the Financial Times that it had received several bids for the portfolio in recent days but had decided to enter into negotiations with the US asset manager.

The sale of the assets is being closely watched because of the implications for the pricing of distressed loans and real estate assets across Spain.

Popular, which was saddled with €37billion in toxic assets, faced a bank run in June that forced the European authorities to declare it was “failing or likely to fail” and to put the lender into resolution.

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