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Vistra To Acquire Business From Germany's Largest Lender

The terms of the deal were not disclosed.
Vistra, a global
corporate service provider, has agreed to acquire the
corporate services business of Deutsche Bank’s global
transaction banking division. The corporate services
business provides management and administration of special
purpose vehicles and asset holding companies to banks,
non-bank financial institutions and corporates.
The business specialises in the administration of structures
for structured finance transactions, aircraft leasing,
commercial real estate holdings and investment funds (mainly
private equity and real estate), the firms said in a statement.
The transaction is subject to regulatory approvals. The deal,
which is expected to close in the first half of 2018, will
see all of Deutsche Bank's corporate services staff given the
opportunity to join the combined operation to support and
grow client relationships. The financial terms of the
agreement were not disclosed.
“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," Onno Bouwmeister, Vistra’s group managing
director of alternative investments. "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," he said.
Jose Sicilia, Deutsche Bank's bead 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.”
Operating in the United Kingdom, Ireland, Luxembourg, the
Netherlands, Jersey, Mauritius, Cayman Islands and the
US, the corporate services business employs 139 staff
globally.
This publication has reported on several Vistra acquisitions over
the last few months. In August,
Vistra acquired Total Solutions Middle East, a business
operating in the Dubai International Financial Centre and the Abu
Dhabi Global Markets centre.