Libra Group in talks to buy Banco Popular property portfolio

The new head of Spain’s Banco Popular, Emilio Saracho, is in talks to sell the lender’s property portfolio and also a stake to Libra Group, online newspaper El Confidencial reported on Tuesday.

The talks with the Greek conglomerate, which has its origins in shipping, are at an advanced stage, the paper said, citing unidentified sources close to the bank.

Libra could invest at least between 350 million and 400 million euros in cash, it said.

[Reuters]