The Service of the Commission for the Protection of Competition has received from Altamira Asset Management (Cyprus) Limited a notification of a concentration, according to Section 10 of the Control of Concentrations between Enterprises Law of 2014, with regard to the acquisition of the business consisting of the platform for servicing non-performing loans and managing real estate, which is controlled by Alpha Bank Cyprus Limited and Agi-Cypre Ermis Limited.
Altamira Asset Management (Cyprus) Limited is a private limited liability company, duly registered in accordance with the laws of the Republic of Cyprus. Altamira Asset Management (Cyprus) Limited is a debt recovery and property management platform, operating under a full recovery process structure. The assets managed by Altamira Asset Management (Cyprus) Limited for third parties are mainly non-performing assets, which include non-performing loans of all types as well as real estate assets for financial institutions, institutional investors and 'bad banks'.
The target company in the concentration is the business consisting of the platform for servicing non-performing loans and managing real estate, which is currently under the control of Alpha Bank Cyprus and Agi-Cypre Ermis Ltd.
|