Apollo to Propel Altamira & EVO By Deals With Catalunya Banc & Sareb

26/05/2014 – ABC

Apollo Management International entered the Spanish financial sector last September with the purchase of EVO Banco, Novagalicia´s branch, for €60 million. Then, in April this year, it acquired 85% of Santander´s real estate servicer Altamira for €664 million.

Now, the fund wants to boost both companies and therefore it has joined the bidding for Catalunya Banc´s offices found outside of Catalonia and expressed readiness to sign management, maintenance or sales contract with Sareb (Spain´s bad bank), to be put up for an auction before summer.

The first deal will enlarge the EVO Banco´s office chain, whereas the other will serve Altamira´s growth.

 

 

Original article: ABC (by M. V.)

Translation: AURA REE

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