Drago teams up with Cerberus to buy 97 Caja Madrid branches

By A staff reporter 2010-11-23T00:00:00

Madrid-based investment firm Drago Capital and an affiliate of Cerberus Capital Management have acquired a real estate portfolio consisting of 97 bank branches from Caja Madrid. The sale-and-leaseback transaction amounts to EUR 96 mln, representing an EUR 80 mln capital gain for the Spanish lender.

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