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31 May 2012
Frankfurt am Main, Germany
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20 June 2012
London
Spain's BBVA bank to follow Santander in e1.6bn S&L of branches
Spanish banking group BBVA, in a similar move to its main competitor Banco Santander in the last 18 months, is near to closing the sale and leaseback of 1,350 bank branches to Deutsche Bank's RREEF Alternative Investment group. The largest part of the operation, valued at e1.2bn and covering 80% of the branch network, is expected to close this week, and the remaining 20%, valued at a proportionally higher e400m, will then follow.