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JC FLOWERS AND CARLYLE INTERESTED IN CATALUNYACAIXA.
The private equity firm JC Flowers has talked to Spanish savings and commercial institutions to partner with them in the bid for the acquisition of the Catalan, CatalunyaCaixa. The U.S. private equity firm The Carlyle Group may also be interested in the deal. Among the financial institutions to bid on CatalunyaCaixa are BBVA and Santander, Sabadell, KutxaBank and Banco Popular.
To study the deal, Santander has hired Goldman Sachs, BBVA to Morgan Stanley, JC Flowers to Moelis, KutxaBank to Nomura, and Sabadell could incorporate JP Morgan or Deutsche Bank.
The private equity partnership with a financial institution would allow the Bank of Spain to overcome that a foreign financial investor could benefit of the Asset Protection Scheme. The Bank of Spain has requested that CatalunyaCaixa process to be resolved in mid-June.