Cerberus buys loan portfolio from Liberbank
US private equity house Cerberus Capital Management is understood to have acquired a portfolio of loans worth €574m from Spanish lender Liberbank.
The package of distressed assets includes credit and unsecured loans to both SMEs and individuals.
The bank is undergoing a recapitalisation plan, having been badly affected by the Spanish property bubble.
Cerberus acquired pub group Admiral Taverns from Lloyds earlier this year, in a deal worth up to £200m.
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