Last updated: 10:01 / Tuesday, 13 January 2015
It could pay €50 mn

Morabanc to Launch in Spain, Acquire Tressis

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Morabanc to Launch in Spain, Acquire Tressis

Andorra’s Morabanc is said to be launching in the Spanish market through the acquisition of fund platform Tressis, according to Expansión. It could pay 50 millions euros for the 85% of the business, according to its sources.

The details of the acquisition are not known yet, but the operation seems to be close to reach a final point.

Morabanc would be the fourth Andorran bank to launch in Spain. Banca Privada d’Andorra entered the market through Banco Madrid; Crèdit Andorrà launched through Banco Alcalá; while Andbank was the only Andorran bank to enter the Spanish market with his own brand and by recently acquiring Inversis Banco.

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