American trio snaps up Anglo Irish loan book

WELLS Fargo & Co, JPMorgan Chase and Lone Star Funds were the winners of the $9.5bn pool of US commercial real estate loans sold by failed lender Anglo Irish Bank, two sources familiar with the deal have said.

The sale marks one of the biggest since the downturn in US commercial real estate four years ago.

It attracted more than two dozen buyers, said a source. The total price paid for all the loans was between $7bn and $8bn.