The Service of the Commission for the Protection of Competition announces that it has received notification of concentration from APS Capital Group s.r.o., Loan Management Investicni Fond a.s., Balbec Invest III S.a.r.l. and Seta Subco 1 S.a.r.l., regarding the acquisition of joint control of Heta Real Estate d.o.o. Beograd, various special-purpose vehicles and some real estate.
APS Capital Group s.r.o. is a company duly registered under the laws of the Czech Republic. This company belongs to APS Group of companies which mainly engaged in the sector of non-performing debts and debt recovery.
Loan Management Investicni Fond a.s. is a company duly registered under the laws of the Czech Republic. LMIF is an organization with the objective of achieving long-term and moderate utilization of funds resulting from investments in receivables. LMIF is part of the Machinery Investments group of companies which focuses in private capital investments, in specific economic sectors.
Seta Subco 1 S.a.r.l. is a company duly registered under the laws of Luxembourg. This company is a special-purpose vehicle, set up for the purposes of the notified concentration. Seta is controlled by investment funds, which manage affiliated entities of Apollo Management L.P..
Balbec Invest III S.a.r.l. is a company duly registered under the laws of Luxembourg. This company is a special-purpose vehicle set up for the purposes of the notified merger. Balbec is part of Group of companies ultimately controlled by InSolve Capital G.P. Parent, LLC, a company duly registered under the laws of Delaware of the United States of America. Balbec group is a private international investment house, specializing in finding, acquiring and managing non-performing credit investments.
The target in this concentration consists of (i) the company Heta Real Estate d.o.o. Beograd which is a limited liability company duly registered under the laws of Serbia. Heta owns and manages a part of non-performing loans in Serbia which previously belonged Hypo Bank A.G., (ii) special-purpose vehicles set up for the purpose of being active in the construction of real estate and the future sale of the property, and (iii) various immovable assets in Serbia, mainly office and residential spaces, which are or will be become commercially usable by renting or selling them.