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.
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(END) Dow Jones Newswires
December 21, 2017 05:14 ET (10:14 GMT)