Alantra advised Oitante on the sale of its servicer in Portugal to Altamira Asset Management

Apr 2017

Sell-side advisory

Alantra advised Oitante, the company created to manage Banif´s assets, on the sale of its real estate asset management and debt servicing unit to Altamira Asset Management, becoming a new financial and real estate asset management platform in Portugal.

The new servicer managed by Altamira seeks to become one of the leaders in the Portuguese market. In this first stage, the servicer will manage financial and real estate assets valued in €1.5bn.

With this transaction, Altamira takes the first step towards its international expansion. Its purpose is to become a European leader in this segment leveraging to a business model that has proven successful in Spain and is willing to implement in new markets such as Portugal.

Altamira, an independent and multiclient firm that offers financial and real estate services, is one of the leaders in the servicer business in Spain, with assets under management of over €50bn, approx. 10 clients including financial institutions and investors and over 700 employees.

By means of this transaction, a pioneering one in the country, a new servicer is established that will bring into Portugal the best global practices in this field in order to increase the monetization of Oitante’s real estate and finance assets and maximize its subsequent value for a future disposal.

The announced disposal, which responds to Oitante’s strategic goal of selling the assets inherited from Banco Banif whilst granting the maximization of its value, will also provide a significant financial backup to the institution.

For Altamira this transaction responds to its strategy of diversifying its activities aiming to reach an adequate investment volume in order to maintain its quality standards on its service. Digitalization, the upgrade in its processes and the quality of the service provided to its ultimate clients will continue to be key to its future performance.