Spain's Santander is nearing a deal to sell its property management unit Altamira Real Estate to U.S. private equity group Apollo Global Management , two sources familiar with the situation said on Thursday.
The deal, which would involve Apollo taking over the unit and getting a contract to service properties and real estate loans owned by Santander, is worth around 700 million euros ($942.44 million), the sources said.
The value could still change, however, as negotiations are still ongoing.
Source: Reuters
