Norwegian company intervene completed its purchase Solvia, with the purchase of 20% of the capital Banco Sabadell currently holds in the company. Like this, Alicante-based bank completely splits from real estate companycaused subsidiary that created CAM at the time get rid of assets that are on its balance sheet due to embargoes.
operation ends enterprise integration process In 2019, Solvia Servicios Inmobiliarios in the Grupo Intrum structure in Spain, which began with the Swedish fund and Sabadell agreeing to take over the company, is in the process of getting rid of all these parts of the business that are not just part of commercial finance.
Although the amount paid for this new share package has not been disclosed yet, Intrum paid 241 million euros for 80% of originally purchased this meant a capital gain of 138m euros for Sabadell.
Despite the separation of the partnership, both companies maintain service contracts Which one did they sign? In other words, Solvia will remain responsible. sale of houses and other assets the situation that the bank has to undertake as a result of non-payment of a loan, as it is today.
From Intrum states that the transaction strengthens its commitment to the Spanish market and its leadership in the “service” industry and maintains a close relationship with Banco Sabadell, with whom it has collaborated for more than eight years. also bears the responsibility. credit management and debt collection.
In recent years Solvia has established itself as one of the reference points in the real estate sector in Spain. More than 150,000 assets under management all kinds of products. In addition to the Solvia Stores chain, it has an extensive commercial network with street level dealerships.
According to the accounts deposited in the Trade Registry, the firm 158.1 million Euro turnoverIt also exceeded the data of the last year before the pandemic, which represents an increase of 46.3% compared to the 2020 figures. At the same time, it is a very profitable company, almost as evidenced. 35.5 million euro profit announced last year.
Despite several business integrations, Solvia maintains one of its main business centers in Alicante, on Calle Ebanistería in the state capital. In total, the working group about 280 people in the provinceaccording to union sources.
ideal moment
Regarding the reasons for the operation, Managing Director of Intrum in Spain and president of Solvia, Jose Luis BellostaHe simply stated that they saw it as “”. ideal moment To complete the corporate consolidation process by continuing the service contract that our companies have had for years.”
CEO of Banco Sabadell Cesar Gonzalez-Buenhe stressed the smooth functioning of the agreement with Intrum during this period “successfully conclude” the reduction of real estate assetsincluding those that are part of Asset Protection Plan It was given to Sabadell to help him digest CAM’s poison brick. “One time finished this stagewe sell our minority stake and maintain our alliance as the asset’s reference service”, said González-Bueno.
Intrum and Banco Sabadell They started working together in 2014, when Banco Sabadell performs the provision of Intrum management services and collection of assets. In 2019, both parties strengthened this relationship with the acquisition of Solvia Servicios Inmobiliarios by Intrum and the signing of a contract for the management and sale of Banco Sabadell’s foreclosed assets.
Intrum is a leading provider of credit and wealth management services in Europe with a presence in 24 countries. It has a team of more than 10,000 professionals serving nearly 80,000 companies in Europe and Latin America.
Source: Informacion
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