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Popular completes sale.(PUERTO RICO)
0 Comments | Caribbean Update, December, 2008
POPULAR COMPLETES SALE. Popular, Inc. on Nov. 3 said it has completed the sale of the loan and servicing assets of its US mortgage subsidiary Popular Financial Holdings, Inc. to various Goldman Sachs affiliates. The sale would result in a reduction of about US$900 million in loans and mortgage servicing assets that are mainly accounted at fair value, providing Popular with more than US$700 million in additional liquidity and reducing Popular's US subprime assets, said Richard L.
Carrion, Chairman, President and CEO.
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