Popular Said to Draw Bid of Close to EU650 Million for Aliseda

Spanish lender Banco Popular Espanol SA (POP) drew a bid of close to 650 million euros ($874 million) for its real estate platform known as Aliseda, a person with knowledge of the process said.

Five firms have bid for Aliseda, said the person, who asked not to be identified because the information isn’t public. They are Cerberus Capital Management LP, Kennedy-Wilson Holdings Inc., Lone Star Funds, Centerbridge Capital Partners LLC and Fortress Investment Group LLC, the person said.

John Dillard, a spokesman for Cerberus in New York, declined to comment, as did a spokesman for Popular. Officials for the other four firms weren’t immediately available for comment.

Popular hired KPMG in September to seek buyers for Aliseda.

Reuters reported earlier today, citing people familiar with the matter, that Popular had received preliminary offers for Aliseda ranging from 450 million euros to 600 million euros.

To contact the reporter on this story: Frank Connelly in Paris at fconnelly@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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