Hypo Real Estate Holding AG is preparing to sell DEPFA Bank plc, reported Reuters citing two people familiar with the situation. The sources added that Citi is advising Hypo Real Estate on the sale of DEPFA. Hypo Real Estate has to sell DEPFA by the end of 2014, and Deutsche Pfandbriefbank AG by 2015 as a condition for the European Commission's approval of its state bailout. One of the two sources added that Hypo Real Estate is likely to approach mainly investors such as private equity firms Lone Star Funds, J.C. Flowers & Co. LLC or Apollo Global Management, LLC (NYSE:APO) for a potential acquisition of DEPFA. Hypo Real Estate and Citi declined to comment.

Catalunya Banc, S.A. has put CatalunyaCaixa Inmobiliaria up for sale and attracted interest from eight international companies, Expansión reported on May 7, 2013. Fortress Investment Group LLC (NYSE:FIG), Apollo Global Management, LLC (NYSE:APO) and Cerberus Capital Management, L.P. have signaled an interest in purchasing CX Inmobiliaria, the news source said. The process is said to be at an early stage.

Assicurazioni Generali S.p.A. (BIT:G) has not got bids of substantial amount it expected for BSI SA, four people familiar with the situation said. BSI attracted bids below its estimated CHF 2.3 billion book value, people added. A consortium made up of Apollo Global Management, LLC (NYSE:APO) and Bankinter, S.A. (CATS:BKT) which is seen as the frontrunner to buy BSI, also offered substantially less than Generali estimate in 2012 of its worth, two of the people with direct knowledge of the matter said. Generali is now left with two options selling BSI for less than it thinks is its underlying value, or calling the sale off, sources added. Also, one of the sources added that Generali could decide to call off the sale and explore other options such as a public listing of BSI. Also, Banco Safra S.A. and Hony Capital (Beijing) Co., Ltd., earlier expressed an interest for BSI. It is however not clear if they are still interested, the sources said. Safra declined to comment, Hony Capital was not immediately available for comment. Generali, Bankinter and Apollo declined to comment to Reuters.