NAB sells additional $1.9b in UK property loans to Cerberus
National Australia Bank (NAB) is selling another GBP1.2 billion ($1.9 billion) parcel of distressed UK real estate loans to New York private equity firm Cerberus Capital Management.
The sale comes from NAB's UK Commercial Real Estate (CRE) portfolio and is expected to to release about GBP127 million in capital for the group, according to a statement. NAB's UK CRE portfolio will...
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