(Bloomberg) -- Banco Santander SA sold its stake in a credit and real estate partnership it had with Intrum AB as it simplifies management of its assets.

Santander, which owned 15% of the partnership called Aktua Soluciones Financieras Holding, sold the stake to Intrum for around €10 million ($11 million), according to people familiar with the matter. Intrum will continue managing some of the real estate assets and non performing loans of Santander, the people said, asking not to be named because the deal is private.

Representatives for the two firms declined to comment.

Santander, Spain’s largest bank, has been working to exit units that manage non-performing loans, many of which it inherited with past acquisitions of smaller lenders. The reshaping is being led by Javier Garcia-Carranza, who oversees investment platforms and corporate holdings and was appointed global head of Santander’s wealth management and insurance division in May. 

Banco Santander also decided to sell a stake of 15% in DoValue SpA’s Spanish unit last year and was considering the sale of another unit called Diglo. 

Aktua manages some of the Santander’s credit portfolios and real estate assets. Banco Santander inherited the stake as part of its takeover of Banco Espanol de Credito SA in 2013. 

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