The country's oldest securitization fund management, Servimedia was jointly established by ABN Amro and Banco Comercial Portugues in 2001. In the latest transaction, ABN acquired 100% control. Motivations for the deal included the desire to consolidate servicing capabilities for securitization clients in the region. It was renamed Oceanus SGFTC.
"We see securitization as an increasingly popular funding and balance sheet management tool for Portuguese issuers. Oceanus will allow us to further develop our offering and play a central role in growth of this market," said Mike Nawas, global head of asset securitization at ABN Amro, in a release.