Spain's Liberbank sells 574 mln euros of distressed assets

MADRID Wed Feb 6, 2013 4:26am EST

MADRID Feb 6 (Reuters) - Spanish lender Liberbank said on Wednesday it had sold a package of distressed assets belonging to individuals and small companies worth 574 million euros ($777 million) to U.S. private equity firm Cerberus Capital Management .

Liberbank, a small lender badly hit by the bursting of Spain's property bubble, is due to receive some of the European cash transferred to Spain's bank restructuring when the government will decide what stake to take in it.

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