UPDATE 1-D.E. Shaw in talks to buy Italian NPL business from GS -sources

April 13, 2015 10:23 AM

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MILAN, April 13 (Reuters) - U.S. investment firm D.E. Shaw has started exclusive talks to buy the Italian non-performing loan business of Archon, a real estate unit of investment bank Goldman Sachs, two sources close to the matter said.

The New York-based firm will have about two weeks to negotiate exclusively the purchase of a 2-billion euro ($2.1 billion) portfolio of Italian non-performing property loans as well as the platform and staff to manage it, the sources said.

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