Cerberus Banned by Sabadell From NPL Deals Amid Legal Tussle
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Banco Sabadell SA has blacklisted Cerberus Capital Management LP as buyer for its non-performing loans amid an ongoing legal dispute between the two firms. The Spanish bank has told its advisers handling NPL sales to exclude Cerberus from several recent deals, according to people familiar with the matter. The ban is still in place and it’s not clear if and when Sabadell is planning to lift it, the people said, asking not to be named discussing private information.