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Banco Popular says in exclusive talks with Blackstone
July 31, 2017 / 9:04 AM / 4 months ago

Banco Popular says in exclusive talks with Blackstone

MADRID (Reuters) - Spain’s Banco Popular said on Monday it had entered into exclusive talks with U.S. asset management fund Blackstone Group over the sale of a majority stake in its property portfolio, confirming an earlier report in online newspaper Vozpopuli.

FILE PHOTO: People walk past a Banco Popular branch in Madrid, Spain, June 6, 2017. REUTERS/Juan Medina /File Photo

The portfolio consists of property assets and non-performing loans valued by Santander - which bought Popular in June - at around 30 billion euros ($35.2 billion).

Reporting by Paul Day; editing by Jason Neely

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