Popular suitor Santander mulls sale of 51% stake in EUR 30bn REOs, NPLs portfolio to single buyer
Banco Santander [BME:SAN] is considering selling a 51% stake of a EUR 30bn portfolio that will house Banco Popular’s [BME:POP] foreclosed property (Real Estate Owned, or REO) and delinquent loans (Non-Performing Loans or NPL), to a single buyer, Expansion reported.
The bank will hear non-binding offers until it presents its results on 28 July, the Spanish-language report said, citing sources close to the bank.
Morgan Stanley is advising on the process, which has attracted the interest of Apollo [NYSE:APO], Blackstone [NYSE:BX], andLone Star, among others, Expansion said.
Market sources added Cerberus, Goldman Sachs, KKR, Kennedy Wilson and Värde Partners to the list of potential bidders.