Since 2018 doValue experienced a phase of major expansion and significant diversification in the Southern Europe market, starting a Group transformation and integration process.
The doValue Group’s growth path is charachterized by the combination of organic development and M&A transactions that have accelerated its geographical and product diversification.
The main transactions we highlight the acquisition of Altamira Asset Management in 2019, Servicer active in Spain, Portugal and Cyprus and a leader in the management of real estate assets, and of Eurobank-FPS in 2020, a Greek servicer with managed assets of over €26 billion.
The acquisition of Altamira has represented for doValue the entry in the wider southern European market.
The completion of the FPS acquisition has allowed the Group to become a leader also in the promising Greek market and achieving a further step forward in the achievement of the Group’s 2020-2022 Business Plan, which seeks to strengthen doValue’s leadership in the servicing market in southern Europe using a business model that does not require direct investments in asset portfolios and pursuing increasingly greater diversification in the credit value chain.
Altamira Asset Management acquisition
doValue on June 27, 2019 has completed the acquisition of an 85% stake in the capital of Altamira Asset Management, a prominent player in the credit and real estate asset management sector, with operations in Spain, Portugal, Cyprus and Greece with assets under management of approximately €55 billion, consideration equal to €360 million.
- Press release: Rome, June 27, 201 – Completion of the acquisition of Altamira Asset Management
- Press release: Rome, December 31, 2018 – Agreement for the acquisition of Altamira Asset Management
Eurobank Financial Planning Services (FPS) acquisition, today doValue Greece
doValue on June 5, 2020 has completed the acquisition of 80% of the share capital of Greek servicing company FPS from Eurobank, today doValue Greece, leading player in the Greek loan and real estate servicing market, active since 2014 with an independent, pure servicing business model which does not envisage investments in loan or real estate portfolios. The remaining 20% is still held by Eurobank.
The operation also includes the exclusive management of future flows from Early Arrears and NPEs originated by Eurobank in Greece for a period of 10 years, thus consolidating the doValue’s role as the strategic long term partner of a systemic Bank.
