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Spain’s Bankia sells €800-million failed loan portfolio

MADRID | BFA-Bankia Group said Tuesday it had closed ‘Operation Hispania’, disposing of a large portfolio of failed loans. The deal involves a total of €800 million. The Spanish troubled bank, which is in need of a multi-billion public capital to maintain its activity, sold the loans to two north European investment funds. They are Aktiv Kapital in Norway and Oko Investments in Luxembourg. The operation has been structured in two…