Real Estate Valuer Tinsa is bought by Advent

August 6, 2010 at 12:20 pm Leave a comment

The Wall Street Journal reports that Advent International has agreed to buy Tinsa, Spanish real estate ratings agency.

So far, it is not known how much this deal will cost Advent International, who buys it from its owning body of savings banks, called cajas. Tinsa’s revenue for 2008 was registered114.5 million Euros.

The deal is expected to be completed by September, after the agreement of each caja involved in the process.

Tinsa, established in 1985, is owned by several individual cajas including Caixa Nova as well as the Confederation of Savings Banks, or CECA, which has a 12% stake. The national valuation and analysis business has recently expanded into various other European countries as well as America and Advent is expected to further this expansion.

Source: WSJ.com

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Entry filed under: News, Real estate. Tags: , , , , , , , .

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