Deutsche Bank Acquires EUR375 Million Loan Portfolio From Spain's Sareb

By FeaturesDow Jones Newswires

Spain's Sociedad de Gestion de Activos Procedentes de la Reestructuracion Bancaria said Thursday that Deutsche Bank AG (DBK.XE) has agreed buy a loan portfolio with a nominal value of 375 million euros ($445.6 million).

Sareb, as the Spanish asset-management company is known, said the loans are guaranteed by properties that are mainly located in Madrid, Catalonia, Andalusia and Aragon.

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"This transaction is consistent with Sareb's divestment strategy and continues, by showing confidence in the Spanish market," said Alfredo Guitart, a Sareb official.

Sareb, which is partly owned by the Spanish government, manages and commercializes assets from financial entities that have received public aid.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

December 21, 2017 05:14 ET (10:14 GMT)