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.