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Blackstone negotiates mortgage portfolio for €950M
02 July 2019 | Vanessa Sousa

American giant Blackstone is currently closing the sale of a mortgage portfolio in Spain for 950 million euro. CarVal Investors should become the portfolio’s new owner.

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Goldman Sachs and Elliott Management Corporation were also negotiating with Blackstone, but according to Bloomberg, the proposal from the credit acquisition specialist CarVal Investors was the highest.

The American fund acquired this, now reduced, mortgage portfolio in 2014 from Calalunya Banc for 3.600 million euro, at a time when Spain was going through a financial crisis.