Firms circle Spanish banking unit

 
City A.M. Reporter
US PRIVATE equity group Centerbridge and London-based Anacap are among the bidders in late-stage talks to buy one of Spain’s smaller nationalised lenders, it emerged last night.

The two firms are in a consortium, and one other US buyout group is also in the running to buy EVO Banco, a subsidiary of state-rescued NCG Banco. The news was first reported by the Financial Times yesterday.

NCG Banco declined to comment on the bidders.

A spokesman said that NCG Banco was likely to decide on the sale of EVO – its network of some 80 branches outside the northern regions of Galicia, Asturias and Leon where it is rooted – this month.

Five bidders earlier tabled non-binding offers for the unit, and binding bids were now in, the spokesman said.

NCG Banco is itself likely to come up for auction in the coming weeks, which will be a bigger test of the state’s ability to get rescued lenders off its hands.

While no foreign investors have yet bought into the networks of bailed-out Spanish lenders in the wake of a 2008 property crash, such funds have been snapping up other assets.