Mergers and Acquisitions
The doValue Group’s growth path is characterised by the combination of organic development and M&A transactions that have accelerated its geographical and product diversification.
The main M&A transactions are the acquisition of an 85% stake in Altamira Asset Management in 2019, a leading servicer active in Spain, Portugal and Cyprus (with €55 billion of assets under management) with a particular expertise in the management of real estate assets, and the acquisition of an 80% stake in Eurobank-FPS in 2020, a leading servicer in Greece (with €26 billion of assets under management) being carved out from Eurobank
The acquisition of Altamira has represented for doValue the entry in the wider southern European market whilst the completion of the Eurobank-FPS acquisition has allowed the Group to become a leader also in the promising Greek market.
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, 2019 – 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.