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TPG, Bridgepoint last remaining bidders for La Caixa subsidiary Servihabitat

30 Jul 2013

apartment_real_estate_170sqPrivate equity firms TPG Capital and Bridgepoint are reportedly the final two bidders aiming to acquire a 50 per cent stake in Spanish bank La Caixa’s property selling subsidiary Servihabitat.

The deal could see the winner hand over up to €300m according to Spanish newspaper Expansión, which said negotiations were at an advanced stage.

Fortress Investment Group and Starwood were also among ten bidders in the first round, the report added, but the offers have since been whittled down to just Bridgepoint’s and TPG’s.

Real estate activity has been picking up in Europe as the fiscal environment begins to settle.

Last month it emerged BC Partners-backed estate agent Foxtons was planning an IPO on the London Stock Exchange, while earlier in the year Countrywide, the UK’s largest estate agency by revenue, raised £200m in its IPO after offering its shares at 350p each.

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