Ireland's NAMA sells loans for 1.85 bln euros in biggest deal yet

September 29, 2015 6:14 AM

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DUBLIN, Sept 29 Ireland's state-run "bad bank" completed its biggest sale to date on Tuesday when it sold a loan portfolio to a joint venture of Hammerson Plc and Allianz Real Estate Germany GMBH for 1.85 billion euros ($2.1 billion).

The National Asset Management Agency (NAMA), one of the world's largest property groups, was set up in 2009 following Ireland's financial crash and paid a total of 32 billion euros to purge local banks of risky loans worth 74 billion euros.

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