Spain’s Alantra, previously known as N+1, has bought an additional 27% stake in N+1 Syz Gestión and N+1 Syz Valores, previously held by Financière Syz, the parent holding company of the Swiss bank Banque SYZ.
The deal, valued at €5.46m, has now been completed, following its announcement in May this year, according to a statement sent by Alantra to the Spanish regulator CNMV.
Following the transaction, N+1 Syz Gestión and N+1 Syz Valores will be fully owned by Alantra and the management team of private banking area.
The rationale of the deal responds to Alandra’s interest in growing the “strategic” activity in private banking.
Under the rebranding recently conducted by Alantra, N+1 Syz Gestión and N + 1 Syz Valores will be renamed Alantra Wealth Management Wealth Gestión and Alantra Wealth Management Agencia de Valores.