Ashurst has picked up a lead role advising on the potential £4bn sale of a portfolio of UK property loans by Germany’s Commerzbank. The bank is in discussions to sell its Eurohypo UK operation to US bank Wells Fargo and private equity group Lone Star, with the loan portfolio valued at between £3bn and £5bn. According to reports in the Financial Times the potential acquirers would divide the portfolio between them, with Lone Star to take on the distressed loans and Wells Fargo the performing deals. Should it go ahead, the deal would reportedly be one of the largest disposals of real estate debt by a European bank since the start of the financial crisis.
May 16, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Ashurst has picked up a lead role advising on the potential £4bn sale of a portfolio of UK property loans by Germany’s Commerzbank.
The bank is in discussions to sell its Eurohypo UK operation to US bank Wells Fargo and private equity group Lone Star, with the loan portfolio valued at between £3bn and £5bn.
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