5 April 2017 – La Vanguardia
Altamira Asset Management and Oitante, the company created to manage Banif’s assets, have agreed to purchase the business unit responsible for managing the latter’s real estate assets and loans (the servicer) in Portugal.
The new servicer will initially manage real estate and financial assets worth more than €1,500 million, according to a statement issued by the manager, which currently has assets under management worth more than €50,000 million.
The manager indicated that the operation has been structured in such a way that ensures “significant” financial support, but it did not reveal any more details.
Alantra acted as the financial advisor to the operation, whilst Linklaters advised Oitante on the legal side and Uría Menéndez-Proença de Carvalho advised Altamira
Original story: La Vanguardia
Translation: Carmel Drake