Wells Fargo (WFC) inks a deal to buy Commerzbank's (CRZBY.PK) U.K. commercial real estate...

|About: Commerzbank AG ADR (CRZBY)|By:, SA News Editor

Wells Fargo (WFC) inks a deal to buy Commerzbank's (CRZBY.PK) U.K. commercial real estate portfolio, comprising about $6B in loans of institutional assets focused on London. About $2B of the loans are non-performing and will be acquired by Lone Star Funds, with Wells providing the financing. The purchase has been rumored for several months as Commerzbank looks to raise capital and Wells looks to pick up cheap assets. (PR)