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Goldman Sachs May Buy CaixaBank Bad Loans, Confidencial Reports

Goldman Sachs Group Inc. (GS) is in talks to buy 1.5 billion euros ($1.9 billion) of bad loans from Spain’s CaixaBank SA (CABK), El Confidencial reported, citing unidentified people close to the matter.

CaixaBank hired Goldman to find a buyer for the loans, for which provisions have already been made, to clean its balance sheet, the financial news website said. Goldman may be interested in buying the loans after failing to a buyer for them, Confidencial added.

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net

To contact the editor responsible for this story: Emma Ross-Thomas at erossthomas@bloomberg.net

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