The Royal Bank of Scotland (RBS) has sold its Spanish real estate portfolio to special subsidiaries of financial investor, Perella Weinberg, The Wall Street Journal reports. The banking group has not disclosed the financial details of the cash transaction, but the package has a par value of €286 million. Blackstone Group, Cerberus Capital Management and Apollo Management were some of the other bidders for the Spanish portfolio. RBS is also seeking options for its €3.46 billion U.K. real estate loan portfolio, which is likely to attract the same private equity funds.
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