Banco Popular sold two debt portfolios to the Apollo and Blackstone. Apollo paid €220m for a debt portfolio secured by hotel assets, while Blackstone acquired the other portfolio for more than €400m. That portfolio is secured by property developments, primarily in the residential sector, containing more than 750 homes and a similar number of parking spaces and storerooms. Banco Popular is aiming to reduce its non-productive assets by 45 percent by 2018.
