FT: Private equity firms in running for Spain's EVO Banco

By IVCPOST Staff Reporter

Sep 02, 2013 05:40 PM EDT

A Financial Times report said last Monday that US based private equity group Centerbridge and London based Anacap were among the bidders for Spain's smaller nationalized lenders. Centerbridge and Anacap had formed a consortium to acquire EVO Banco. Another US buyout group had also run to buy the lender. This was according to a report posted on the newspaper's website, citing people close to the discussions.

Spain based EVO Banco is a subsidiary of NCG Banco. A spokesperson for NCG said that the lender would likely decide on the sale of EVO this month. EVO is NCG's network with 80 branches in northern regions of Spain that included Asturias, Leon and Galicia.

There were already five bidders that have proposed earlier non-binding offers for the unit. Currently, binding deals were now in, said the spokesperson.

There are no foreign investors who had acquired into the networks of the bailed-out Spanish lenders. Last year, an EU rescue of the weakest banks was triggered after the such lenders had been selling their other assets.

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