JPMorgan and Lone Star Said to Lead Dutch Bad Bank Bidding

By: Sharon R Smyth and Aaron Krichfeld

A venture between JPMorgan Chase & Co. and private-equity firm Lone Star Funds is the leading bidder to buy Propertize BV, the Dutch bad bank that holds 5.5 billion euros ($6.1 billion) of loans and real estate, according to a person with knowledge of the matter.

Propertize may reach a deal to sell the firm in the next month, though talks are ongoing and could still fall apart, the person said, asking not to be identified because the sale is not completed. JPMorgan and Lone Star have been competing with bidders including a venture between Goldman Sachs Group Inc. and Cerberus Capital Management LP, another person familiar with the matter said. [Read More]

Source: Bloomberg.com