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economy
Banc Sabadell sells off property assets to Cerberus
Banc Sabadell has made a deal with a subsidiary of the US investment fund, Cerberus Capital Management, for almost all of its property assets for 9.1 billion euros. According to the company yesterday, the net value of the deal is worth around 3.9 billion euros. Cerberus will take some 80% of the bank’s portfolio with Banc Sabadell keeping the remaining 20%.
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