The Service of the Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 (4) of the Control of Concentrations between Enterprises Law of 2014, concerning the acquisition of control of control of the joint company Trusset Asset Management Limited by Qualco Holdco Limited και Astrobank Public Company Limited
Qualco Holdco Limited is a company duly registered under the laws of England and among with its subsidiaries (“Qualco group”) it is active in the provision of financial technology, management of debt collection and the provision of real estate consultancy services out of Cyprus.
Astrobank Public Company Limited is a company duly registered under the laws of Cyprus and is credit institution licensed under the Business of Credit Institutions Law, No. 66(I)/1997, as amended, that is supervised by Central Bank of Cyprus and European Central Bank.
The joint venture that will be created by the aforementioned companies named Trusset Asset Management Limited is a company duly registered under the laws of Cyprus. The joint venture’s main activities will be (a) the management and recovery of non-performing loans and (b) management of property acquired by execution proceedings or payment credit rights arising from mortgage loans.