Northern European credit management service provider Lindorff has reportedly agreed to acquire Centerbridge Partners' Spanish real estate services arm Aktua for €300 mln.
Northern European credit management service provider Lindorff has reportedly agreed to acquire Centerbridge Partners' Spanish real estate services arm Aktua for €300 mln.
According to a news report in Spanish paper el Confidential, Norway's Lindorff fought off competition from Apollo Capital Management, Banco Santander, as well as the German firm Activum SG Capital Management to acquire the platform, a former subsidiary of Banesto which currently manages around 42,000 properties worth almost €7 bn.
Centerbridge is believed to be making a hefty process on the sale, having acquired Aktua in 2012 from Banesto for around €100 mln.
Barclays, Bank of America Merrill Lynch and Linklaters advised on the bidding process.
Lindorff has long been active in the Spanish market. In 2012, it bought Banco Santander's credit asset manager Reintegra for €100 mln and two years later it acquired Sabadell’s special situations arm for €160 mln.
Headed by CEO Alejandro Zurbano, Lindorff España has offices in Madrid, Valladolid, A Coruña, Alicante, Barcelona, Granada, Jerez de la Frontera, Santa Cruz de Tenerife, San Sebastián and Valencia.
