Lone Star, Wells Fargo in talks to buy Eurohypo portfolio-source
FRANKFURT, April 18
FRANKFURT, April 18 (Reuters) - Private equity firm Lone Star and Wells Fargo are in exclusive talks to buy a 4 billion pound ($6.09 billion) UK property loans portfolio, put up for sale by Commerzbank, a person familiar with the deal said on Thursday.
A deal could be struck as early as May, the source added.
Commerzbank, Wells Fargo and Lone Star declined to comment.
Germany's second-largest lender is selling the UK property loans business of its mortgage unit Hypothekenbank Frankfurt International, formerly known as Eurohypo as a way to cut down the size of its balance sheet.
Trending On Reuters
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video