Blackstone sneaks into the bidding for 7.5 billion in Sabadell’s flats vs. Cerberus

Banco Sabadell and Cerberus are working around the clock in the largest real estate operation at the moment. The Spanish entity and the US fund may close in the next few days the transfer of 7.5 billion in real estate assets. But in the last few days a possible competitor to Cerberus has arisen, its competitor Blackstone, that’s trying to join the bidding, according to financial sources consulted by Vozpopuli.
This name is once more on the table, at the delay in closing the operation between Sabadell and Cerberus. The fund led by Mr. John Snow still has still preference in negotiations, but the entity led by Mr. Josep Oliu does not shut the door on Blackstone, in case the first path went awry.
Blackstone present the second best offer for the whole awarded assets block on sale, after Cerberus and ahead of Lone Star.
The initial idea was to sell the real estate in its balance in two. On one hand, those assets from its recurrent business, valued at 5 billion, within Project Challenger. On the other, Real Estate assets from CAM, valued at 2.5 billion, in Project Coliseum.

Two projects in one

Finally, sources close to investment funds are pointing out that the entity has decided to join both projects and award 7.5 billion to one candidate, which places Cerberus at the forefront, to date.
Sabadell´s plan is to close these deinvestments before August. The 2.5 billion of Project Coliseum depend on the approval of the Deposits Guarantee Fund (FDG), as they’re assets with public guarantees.
Sabadell’s plan is to assume slightly more than 20% of the asset protection scheme in exchange for the new Socialist government allowing it closing the whole operation at once, as Vozpopuli said first. The FDG studies structures to differ the impact of the sale, not to affect the deficit.
For Cerberus, this operation is vital within the process of restructuring of the sector, and the danger of losing its largest agreement in Spain -via Haya Real Estate-, in Sareb.
Source Vozpopuli. Translation by Miguel Vinuesa Magnet.

Comments are closed.


What are cookies

Cookies are small files that contain certain information about the user's browsing through the web page. Cookies are sent to the user's browser and stored on your computer.

Purpose of cookies

Cookies are used to capture information about the user's browsing, by analyzing it, to find out how the user interacts with, and thus optimize the experience of browsing.

Types of cookies The cookies we use are:

- Analysis Cookies (Google analytics): they allow the monitoring and analysis of the user's behavior in order to introduce improvements according to the user's use of the web page and the services. According to Google, Google Analytics is a free web analytics tool that mainly allows website owners to know how users interact with their website. It also enables cookies in the domain of the site where you are and uses a set of cookies called "__ utma " and "__ UTMZ " To collect information anonymously and to produce web site trend reports without identifying individual users. Learn more about Google analytics at:

-Technical cookies: Allow the user to navigate through the website and use their different options or services.

Disabling cookies

Users can reject the possibility of us using cookies on their terminal computer by configuring their browser, but this will lead to a less satisfying browsing experience that can even be flawed. For more information on deactivating cookies visit: