FINANCE: Havbell Limited, a new vehicle comprising Deutsche Bank and Apollo Global Management, is buying a portfolio of Irish loans from Permanent TSB for a total consideration of €800m.
The loans are non-core commercial real estate loans on assets spread across Ireland. The loans have a face value of €1.5bn.
Deutsche Bank beat Goldman Sachs and Mars Capital for the portfolio.
Morgan Stanley managed the sales process. The sale is expected to close in June.
