FRANKFURT – Germany’s biggest mortgage bank Eurohypo has sold 2.4 billion euros ($3.13 billion) of nonperforming loans to a consortium led by American banking firm Citigroup, the company said on Wednesday.
Eurohypo said the portfolio was sold to a newly established company, in which it has a 33-percent stake and in which Citigroup consortium holds the other 67 percent.
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