November 29, 2017 / 7:25 AM / 19 days ago

BRIEF-BBVA transfers to Cerberus 80 pct of its real estate business for 4.00 bln euros‍​

Nov 29 (Reuters) - BANCO BILBAO VIZCAYA ARGENTARIA SA :

* REACHES DEAL WITH UNIT OF CERBERUS FOR THE CREATION OF A JV TO WHICH THE REAL ESTATE BUSINESS OF BBVA IN SPAIN WILL BE TRANSFERRED‍​

* BBVA TO CONTRIBUTE BUSINESS TO SINGLE COMPANY AND TO SELL 80% OF SHARES OF SUCH COMPANY TO CERBERUS AT CLOSING DATE OF TRANSACTION

* THE SALE PRICE FOR 80% OF THE SHARES WOULD AMOUNT TO ABOUT 4.00 BILLION EUROS

* UNDER AGREEMENT HAYA REAL ESTATE TO MANAGE REAL ESTATE PORTFOLIO HELD BY BBVA ONCE THE TRANSACTION HAS BEEN EXECUTED

* AT THE MOMENT IMPACT ON GROUP‘S ATTRIBUTABLE PROFIT IS ESTIMATED AS NOT SIGNIFICANT

* IMPACT ON CET 1 (FULLY LOADED) IS EXPECTED TO BE SLIGHTLY POSITIVE Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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