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Sareb Finalises Sale of 20% Stake in Témpore to TPG

The Texas Pacific Group (TPG) holds the remaining 80%. It will pay around 32 million euros to acquire the remainder.

TPG

Sareb is hastening the sale of its assets. The bad bank will sell its 21.22% stake in the socimi Témpore to its partner, and owner of the remaining 80%, the Texas Pacific Group (TPG) fund, according to Cinco Días. The transaction could be completed before the end of the year.

Sareb’s stake totals 6,531,825 shares, priced at 5 euros/share, for a total of 32.65 million euros. After its IPO in 2018, and only one year later, TPG bought 75% of the listed company in BME Growth for €103 million.

The vehicle’s portfolio consists of 3,000 homes valued at €377 million. This socimi is one of the largest landlords in the country alongside Blackstone, CaixaBank, CBRE IM, Axa, APG and Aware.

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