End of purchase. Swedish company Intrum closed the acquisition of Banco Sabadell’s historic real estate company Solvia. intervene He already owned 80% of the shares since 2019, when he paid 241.4 million euros.included an agreement for the acquisition to be completed years later. Listed on the Stockholm Stock Exchange this Friday, the company has confirmed nearly 40 million close transactions, as confirmed by sources related to the transaction on this medium.
“With this process, Intrum reinforces its commitment to the Spanish market and its leadership in the Service sectorIt maintains a close relationship with Banco Sabadell, an organization with which it has been collaborating for more than eight years in the management of loans and real estate assets. Solvia manages more than 150,000 real estate assets in Spain.
This operation Allows Banco Sabadell to liquidate real estate risksderived from the previous crisis. But the organization’s CEO, César González-Bueno, leaves the door open for continuing his alliance with Intrum. Solvia is committed to managing outstanding debt, with or without real estate collateral. Even if there is no default wave like in 2008-2012, they will always exist and banks will need external partners for this.
All Spanish banks had companies specializing in such assets. Banco Santander created Aliseda and Altamira and eventually sold it to Blackstone and Do Value, respectively, but retains a percentage of both. Now, the entity headed by Ana Botín has created another, Diglo. Other international funds, such as KKR, which founded Hipoges and grew rapidly, worked in this regard in Spain. Full, Anticipa (Blackstone), Aliseda (Blackstone and Santander) and Hipoges are the current directors of the Sareb portfolio.The bad bank that was set up to oxygenate the bank after the outbreak of the banking crisis.