Economy

Demeter

(85,373 posts)

28. Wells Fargo to buy $11bn energy loan portfolio

Wed Feb 22, 2012, 09:18 AM

Feb 2012

Wells Fargo has agreed to buy an energy loan portfolio from BNP Paribas with a historical value of $11bn, according to people familiar with the matter.

The deal, which is set to be announced later on Tuesday, would be one of the biggest disposals by a European bank as part of a pattern across the continent of shrinking balance sheets. It is the latest example of Wells, the biggest US bank by market capitalisation, snapping up assets from European institutions...

The largest US bank by market capitalisation has agreed to purchase $9.5bn in loans from the biggest French lender by assets...

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http://link.ft.com/r/VKY5JJ/97FF55/VTVRG/KQPTGN/JEGO59/CM/t?a1=2012&a2=2&a3=21

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