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BBVA Confirms in Talks to Sell Spain Real-Estate Business to Cerberus

By Nathan Allen Dow Jones Newswires

Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA.MC) said Thursday it is in talks regarding the potential sale of its Spanish real-estate business to New York-based Cerberus Capital Management LP (CRP.XX).

BBVA said it wasn't certain negotiations would lead to a deal.

The bank said it was responding to press speculation about a potential deal involving real-estate. Over the past week several Spanish news outlets have reported that a deal was in the works.

In August, BBVA confirmed it was negotiating with Canada's Bank of Nova Scotia (BNS.T) to sell its Banco Bilbao Vizcaya Argentaria Chile SA (BBVACL.SN) unit.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

September 28, 2017 03:12 ET (07:12 GMT)