Lisbon, January 2016-. N+1 has advised Portuguese Sociedade Comercial Orey Antunes on the acquisition of a 49.99999936% stake in Spanish Banco Inversis for €21.74mn. The acquisition, announced in July 2013 and completed in January 2016, is part of a transaction consisting on the acquisition of the 100% of Banco Inversis by Banca March for €217.4mn, which subsequently sold the private banking business of Inversis to Andbank for c. €180mn and a 49.99999936% stake of the remainder to OFH Sárl, a fully owned subsidiary of Orey.

Orey Group is an operating holding company that invests in a mix of minority, majority and wholly owned companies as an active, long-term investor. With about 425 employees, it is currently present in Portugal, Spain, Brazil, Angola and Mozambique. The acquisition represents a reinforcement of the investments of Orey in the financial segment with a differentiated product and service offering at global scale and to decisively set its presence in the institutional market. Furthermore, it will also allow the company to consolidate its presence in the Spanish market.

Banco Inversis is essentially focused on the provision of services to institutional clients in the area of investment products. These include the possibility of full outsourcing of the management of their customers' product offering and banking core. Inversis provides services internationally, serving more than one million end-customer accounts with assets under custody in excess of Euro 50 billion. As at 30 June 2015, the Tier 1 Common Equity Ratio (CET 1) stood at 23.3%.


NMAS1 Dinamia SA issued this content on 2016-01-11 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-18 10:10:03 UTC

Original Document: http://www.nplusone.com/news/256