As part of their strategy of disinvestment in non-strategic assets Banco Sabadell has sold two portfolios of provisioned bad debt to the international investors Aktiv Kapital Portfolio As , Oslo , Zug Branch ( Aktiv Kapital ) and Orado Investments, S.À.r.l. (managed company by Elliot Advisors ), amounting respectively to 437 and 195 million Euros , in an operation denominated Project GarbÍ, in this way transferring the risk of these portfolios, which had previously been incorporated into the Banco Sabadell balance as a consequence of the acquisition of the Banco CAM . According to Miguel Montes , Managing Director of Banco Sabadell, " This operation is another example of Banco Sabadell's capacity to generate transactions and position itself on the institutional market. Likewise, it is yet another indication of the interest of international investors in this type of operation ." This operation is aligned with the bank's strategy of removing non-strategic assets from their balance sheet. The sale was arranged, following a competitive bidding process, by the Structured Operations Team, which forms a part of the bank's Real Estate Investment Management . (( M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.com on the world wide web. Inquiries to email@example.com )).
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