Spanish savings banks team up to sell distressed properties

By A staff reporter 2009-03-17T00:00:00

Over half of Spain's savings banks are joining forces to sell defaulted property and developments through the launch of a new vehicle, Ahorro Corporación Soluciones Inmobiliarias (ASCI). The new company, which will be managed by Ahorro Corporation, a financial services group jointly owned by the Spanish Cajas, has already been ...