Spain’s Tressis to undergo MBO
Executives of Tressis will lead a management buyout to acquire a majority stake in the Spanish asset manager.
The management will buy about 55% stake in the firm for an undisclosed sum, Tressis announced.
After the transaction, Haitong Capital, the private equity arm of Haitong Bank, will become a shareholder with a minority stake in Tressis, which has more than €3.5bn in assets under management.
The completion of the deal is subject to the approval of authorities in Spain and Portugal.
“The next few years will be marked by growth and expansion, without losing the essence that has enabled the company to reap more than 15 years of success,” said José Miguel Maté, one of the founding executives of the company.