Country for PR: United Kingdom
Contributor: PR Newswire Europe
Thursday, September 14 2017 - 23:04
AsiaNet
Vistra to Acquire Corporate Services Business from Deutsche Bank
HONG KONG, Sept. 14, 2017, /PRNewswire-AsiaNet/--

    Vistra, a leading global corporate service provider, announced today that 
it has entered into a definitive agreement to acquire the Corporate Services 
business of Deutsche Bank's Global Transaction Banking division. 'Corporate 
Services' provides management and administration of SPVs and asset holding 
companies to banks, non-bank financial institutions and corporates. The 
business specialises in the administration of structures for:

    (Logo: http://photos.prnewswire.com/prnh/20150611/748772)

    - Structured Finance transactions (CLOs, CDOs, Securitizations, 
Mortgage-Backed Securities);
    - Aircraft Leasing;
    - Commercial Real Estate holding; and
    - Investment Funds (mainly private equity and real estate). 
    Operating in the United Kingdom, Ireland, Luxembourg, the Netherlands, 
Jersey, Mauritius, Cayman Islands and the US, the business employs 139 staff 
globally. The transaction is subject to regulatory approvals.

    Expected to close in the first half of 2018, the transaction will assist 
Vistra to continue on its progressive growth trajectory. The acquisition 
strengthens Vistra's international network and provides further scale and 
expertise for existing jurisdictions. All of Deutsche Bank's Corporate Services 
staff will be given the opportunity to join the combined operation to support 
and grow the client relationships that are at the core of this acquisition. 
Terms of the agreement are not being disclosed.

    Commenting on the acquisition, Onno Bouwmeister, Vistra's Group Managing 
Director of Alternative Investments' division stated "This acquisition marks 
another significant step in Vistra's growth, broadening our presence in seven 
of our existing locations across Europe, the Cayman Islands and Mauritius. It 
gives us presence in Ireland, a key strategic jurisdiction particularly in 
light of the upcoming 'Brexit' process, and additional capability in Mauritius 
where the bulk of the back-office administrative activity is carried out to 
high quality standards. This additional expertise in the Capital Markets sector 
will have a significant impact on our Alternative Investments division, 
creating exciting opportunities for our new employees and clients alike. We 
look forward to working together to build on our achievements to date and take 
Vistra to the next level."

    Jose Sicilia, Deutsche Bank's Head of Trust and Agency Services, Global 
Transaction Banking said "Our main goal with this transaction was to find a 
partner that will continue to deliver the highest quality services to our 
Corporate Services clients as well as a dedicated Corporate Service provider 
for our staff. This will enable us to sharpen our focus on our existing 
award-winning securities services business. We feel we have achieved our 
objective with Vistra."

    About Vistra Ranked in the top four corporate service providers globally, 
Vistra is a versatile group of professionals, providing a uniquely broad range 
of services and solutions. Our capabilities span across company formations to 
trust, fiduciary, private client services, and fund administration. Vistra 
employs over 3,500 employees in 74 offices across 44 jurisdictions.

    For more information, please visit http://www.vistra.com

    Source: Vistra Group