The Service of the Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 of the Control of Concentrations between Enterprises Law of 2014, concerning the acquisition by Altamira Asset Management S.A., of the share capital of Altamira Asset Management (Cyprus) Ltd.
Altamira Asset Management S.A. is a company duly registered under the laws of Spain. Altamira Asset Management S.A. is a debt recovery and real estate management platform, which operates under a full recovery process structure, resulting a unified life cycle in terms of asset under management. This company already owns 51% of the share capital of Altamira Asset Management (Cyprus) Ltd.
The target in this merger is Altamira Asset Management (Cyprus) Ltd, which is a company duly registered under the laws of the Republic of Cyprus. Under the pre-existing arrangements in relation to the services provided to the Cooperative Central Bank, Altamira Asset Management (Cyprus) Ltd provides the following services (a) the service of Non-Performing Loans and (b) the management of real estate acquired through enforcement or payment procedures due to credit rights arising from Non-performing Loans.