(Alliance News) - doValue Spa announced Thursday the finalization of the Sky portfolio acquisition transaction, which includes the on-boarding by doValue Cyprus of the Sky portfolio assigned by Cerberus Capital Management with a total value of approximately EUR2.3 billion of Non-Performing Exposures originated by Alpha Bank Cyprus, of which EUR2.1 billion represent new assets under management.
"The transaction confirms doValue's strategy to expand its customer base, with the addition of new customers such as Cerberus, through the exploitation of its banking platform, launched in Italy and developed in Greece and Cyprus, as part of the doTransformation project. Through this transaction, which includes an important property management component, the doValue group will be able to further diversify its revenues. Through the acquisition the management of the Project Sky portfolio, doValue confirms its role and position as a market leader in the Hellenic region and particularly in the Cyprus market," the company explained in a note.
doValue trades in the green by 1.0 percent at EUR3.53 per share.
By Claudia Cavaliere, Alliance News reporter
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