Intrum completes the purchase of Solvia with the acquisition of Banco Sabadell's 20% stake in the company. This transaction culminates the process of corporate integration of Solvia Servicios Inmobiliarios into the structure of the Intrum Group in Spain, which began in 2019 when Intrum and Sabadell agreed on the transfer of the real estate company.
With this transaction, Intrum reinforces its commitment to the Spanish market and its leadership in the Servicing industry, maintaining a close relationship with Banco Sabadell, an entity with which it has been collaborating for more than eight years in the management of loans and real estate assets.
In recent years, Solvia has established itself as a benchmark in the management and marketing of real estate in Spain, with more than 150,000 assets under management of all types of products. It has an extensive commercial network and a Solvia Stores model that is unique in the sector.
"With the acquisition in 2019 of a majority position in Solvia, we took an important step in the development of our Servicing activity in Spain, strengthening and expanding Intrum's leading position in the market. Building on the excellent relationship we have with Banco Sabadell, we believe this is the ideal time to complete the process of corporate consolidation, maintaining the service agreement that our companies have had for years," said José Luis Bellosta, managing director of Intrum in Spain and chairman of Solvia.
The CEO of Banco Sabadell, César González-Bueno, highlighted that "Banco Sabadell's strategic alignment with Intrum over the years has allowed us to successfully conclude the reduction of our real estate assets. Now that this stage is over, we are selling our minority stake and maintaining our alliance as the bank's benchmark servicer.
Intrum and Banco Sabadell began working together in 2014, when Intrum took over the provision of non-performing asset management and collection services from Banco Sabadell. In 2019, both entities strengthened that relationship with the acquisition of Solvia Servicios Inmobiliarios by Intrum and the signing of a contract for the management and marketing of Banco Sabadell's foreclosed assets.