Reuters: Private Equity: UPDATE 1-Blackstone to buy 100 mln euros of SocGen loans-FT

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UPDATE 1-Blackstone to buy 100 mln euros of SocGen loans-FT Mar 19th 2012, 07:37 Mon Mar 19, 2012 3:37am EDT PARIS, March 19 (Reuters) - Private equity firm Blackstone is in exclusive talks to take over 100 million euros ($132 million) of commercial property loans owned by Societe Generale as the French bank seeks to curb its real estate exposure, the Financial Times reported. The deal is likely to close within weeks, the paper said on Monday, citing people involved with the discussions. SocGen declined to comment, and Blackstone could not immediately be reached for comment. BNP Paribas, Societe Generale and Credit Agricole are all hawking bundles of property loans to prospective buyers to shrink their balance sheets to meet tough new rules designed to clamp down on risk, two Paris-based real-estate bankers told Reuters last month. (Reporting by Dominique Vidalon; Editing by Mark Potter)

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