Santander sells 600 million nonperforming assets portfolio to Marathon fund

Santander has agreed to sell a portfolio of doubtful assets of 600 million euros to the Marathon fund.

The portfolio has a value of 600 million euros, but the fund has finally paid 100 million euros for it, made up of doubtful loans of small and medium-sized companies related, above all, to the hotel sector, according to sources consulted by Europa Press.

The operation has been advised by Deloitte and two other firms, Fortress and Tilden Park, have participated in it. The transaction, reported by El Confidencial, is part of the Talos Project that the financial institution has launched for the sale of toxic assets.

Marathon is a fund founded in New York in 1998 and specialized in the global credit and real estate markets.

Source: Expansión.