According to Eco, the Bank is looking for a partner to manage the assets and real estate loans belonging to Popular, and should settle this joint venture with the Fund which present the best offer.
Bloomberg’ informations, citing sources close to the process, states that 3 Funds are already working on the process: Blackstone, Apollo and Lone Star. These may present their bids concerning the 51% until the end of the month.
In the same proposal, it’s included a similar participation at Aliseda, the property management company of Popular which Santander repurchased this month.