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Haya Real Estate reaches €49 billion AuM after Divarian’s merger

US private-equity fund Cerberus gave the green light to merge Divarian, the company created in joint-venture with BBVA after the acquiring the bank’s real estate assets, with its servicer Haya Real Estate. After the merger, Haya will manage more than 200,000 assets and reach €49 billion of assets under management (AuM).

The agreement also includes the integration of Divarian’s operational real estate management capabilities in Haya, including employees and other resources. The transaction is expected to be completed by early June 2019.

This transaction will consolidate Haya as the flagship real estate servicer in Spain, with more than 1,250 direct employees and €49 billion assets under management. The company will increase its capillarity, as well as its real estate management and marketing capabilities, throughout the Spanish territory. This will allow Haya to underpin its position as well as to accelerate growth and continue offering a first-class service to its clients.

Thanks to this transaction, along with the recently announced agreement to manage the Apple portfolio – the Cerberus and Banco de Santander joint venture -, the Company further diversifies its client portfolio. Currently, Haya provides services to SAREB, BBVA, Bankia, Grupo Cajamar and Liberbank, in addition to other institutional funds.

«We are thrilled with this transaction. Divarian’s team has a strong and proven asset management capability and we believe that this union will allow us to strengthen our business, as well as enrich our portfolio of services. A stronger and more competitive company will result thanks to the combination of our technical, commercial and human capabilities. This agreement gives us a unique position to continue growing, not only in the number of clients, but also in services», Carlos Abad, CEO of Haya Real Estate, said.

Enrique Dancausa, CEO of Divarian, said: «We are convinced that this transaction ensures the best service for the company’s assets and creates the best value for our shareholders by leveraging on the combined capabilities of both organizations. In addition to this, the transaction expands the career development opportunities for Divarian’s professionals as they become part of one of Spain’s leading servicers».

Original Story:Europa Press | PR
Photo: Divarian (Facebook)
Edition:Prime Yield

Portugal’s «strong growth» helps to boost Bankinter results in Q1

Bankinter recorded a net result of €145 million during Q1 2019, in a slight increase of 1.45% in relation to the same period of 2018. Portugal’s subsidiary recorded a «strong growth», contributing with €22 million, before taxes, to the global results of the Spanish banking group, in a 16% increase.

In Spain, Bnakinter’s credit portfolio recorded a 5% increase in Q1 while the clients’ resources grew by 10%. Regarding Portugal’s branch, both the credit as the clients’ resources increased by 12%; reaching €5.6 and €4.3 billion, respectively.

Original Story: ECO | Lusa 
Photo:Bankinter online
Edition & Translation:Prime Yield