Santander Sells EUR1.5 Billion In Bad Loans To US Firms - Report
April 02 2012 - 2:32AM
Dow Jones News
Banco Santander SA (STD) has sold EUR1.5 billion worth of bad
loans in recent months to U.S. investment firms Fortress, Lone Star
and Cerberus, Expansion newspaper reports, citing market
sources.
Spain's largest lender sold the portfolios for more than EUR200
million, says the newspaper. Fortress purchased EUR1 billion of
consumer credit, while Lone Star and Cerberus bought EUR500 million
of mortgages, it adds.
Newspaper website: www.expansion.com
Madrid Bureau, Dow Jones Newswires; 34 91 395 8120.
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