Rabobank agrees sale of former ACC Loan Portfolio
Rabobank has agreed the sale of the secured loan portfolio formerly owned by ACC Loan Management (ACC) to a consortium of Goldman Sachs and CarVal Investors. It has also agreed the sale of the unsecured loan portfolio to Cabot.
The sale of the entire remaining loan portfolio of ACC valued at approximately EUR 800mln will have a small positive impact on Rabobank Group’s 2019 net profit and its CET1 ratio.
Rabobank’s Banking for Food strategy is the driving force behind the Group’s international portfolio. The sale underpins this international strategy and is in line with the Group’s balance sheet optimization program to reduce non-core assets.