Commerzbank in talks to sell 5.7 bln euros of UK property loans

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Commerzbank is in intensive talks to divest the bulk of its 5.7 billion euros ($7.4 billion) in British property loans, Germany's second biggest lender said in the prospectus of its capital increase published on Tuesday.

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Commerzbank wants to sell the portfolio to private equity investor Lone Star and U.S. bank Wells Fargo, a source familiar with the transaction had said last month.

 

Commerzbank is hiving off the UK property loans business of its mortgage unit Hypothekenbank Frankfurt International, formerly known as Eurohypo as a way to cut down the size of its balance sheet.

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