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doBank acquired 85% of Altamira Am

02 January, Il Sole 24 Ore

doBank is aiming at the Southern European market of bad loans and real estate assets. The group reached an agreement to acquire 85% of Altamira Am from the Apollo funds, the Canadian retirement fund and the Abu Dhabi Investment Authority. The interests may reach 100% if the Spanish Santander sells its 15% share.

Altamira manages credits and real estate assets for a total amount of 55 billion euro. The company is present in Spain, Cyprus, Portugal and Greece, and its enterprise value is assessed at 412 million euro. With this operation, which saw Mediobanca as the advisor, doBank has become the leader in Europe concerning credit management and real estate services on behalf of banks and investors, with managed assets for 140 billion and over 2,200 employees.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

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