"The real estate assets subject to the transaction have a total gross book value of almost €9,100 million and a total net book value of €3,900 million," stated the financial institution in a relevant event submitted to the National Market Commission of Securities, CNMV.
The transaction has been structured through the transmission of two portfolios of real estate assets known commercially as "Challenger" and "Coliseum" to one or several newly constituted companies, whose capital will be injected and / or sold in a way that Cerberus participates directly or indirectly in 80% of the capital of the new companies and Banco Sabadell in the remaining 20%. Banco Sabadell and Cerberus will sign an agreement to regulate their relations as partners of the new companies created.
In turn, the Catalan entity informs that Solvia Servicios Inmobiliarios will continue to be wholly owned by Banco Sabadell and will continue to provide the services of integral management (servicing) of the real estate assets subject to the operation under the exclusive basis.