PEP pepper residential securities trust no. 39

News: PEP Pepper Group confirms that discussions with Banco Popular to form JV ceased

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    April 6 (Reuters) - Pepper Group Ltd (PEP)

    • Confirmed that discussions with spanish bank, banco popular to form a 50-50 JV have formally ceased
    • As a result, agreements between pepper group and banco popular are no longer legally binding.
    • Is committed to its existing consumer finance business in spain and is confident of outlook for that business on a standalone basis
    • It was agreed that it was in best interests of both parties not to proceed with joint venture due to a change in strategic priorities
    • Terminated joint venture to pursue opportunities in unsecured consumer finance market together
 
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