BBVA Sells a €700 Million Portfolio of Loans and Assets from Unnim to KKR

The entity has sold a portfolio of loans and toxic real estate assets from Unnim, with a gross value of 700 million euros, to the fund KKR.

BBVA has signed an agreement to sell a portfolio of loans and real estate assets, with a gross value of approximately 700 million euros, and known as Project Dakar, to the investment fund KKR.

The entity explained that the portfolio is made up of two types of loans – those with mortgage guarantees by way of collateral and those without – as well as foreclosed real estate assets, all from the former entity Unnim.

Read the full article in Spanish.