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Sabadell Finalises the Sale of a Portfolio of Doubtful Mortgages Worth €500M to Lone Star

The entity chaired by Josep Oliu and the North American fund are negotiating the sale of a portfolio of toxic mortgages, valued at around 500 million euros, which could be closed before the beginning of 2021.

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Banco Sabadell is negotiating the sale of a portfolio of doubtful mortgages worth around 500 million euros with Lone Star. The objective of the Catalan entity is to start the new year with a default rate of 3.2%, according to sources close to the bank speaking to El Confidencial.

In this way, the group decided recently to resume its attempt to sell Project Higgs, which it put on the market before the summer with an initial perimeter of around 900 million euros. However, at the time, no funds expressed any interest in the portfolio and so the entity chaired by Josep Oliu put the sales process on hold.

Read the full article in Spanish.

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