SPAIN - ABN Amro Capital to cease activity in Spain

Rumour has it that, since the decision was communicated to the team a few months ago, the Spanish branch has seen the departure of three executives out of a team of four. The latest departures are those of Héctor Pérez, who is now part of the investment team at Bridgepoint in Madrid, and Carlos Godina, now working with the leverage team at BNP Paribas, also in Madrid. At present, José Basabe is the only manager left in the office and will be responsible for the divestment of plastic tube manufacturer Nueva Terrain and mortgage provider Euro 56.

Elsewhere, it is expected that the Italian team of ABN Amro Capital will launch a process for the purchase of the management company by its own directors. The Milan office, led by Antonio Corbani, has recently divested lawnmower manufacturer GGP to 3i and is reported to be closing another mid-sized deal in the next couple of weeks.

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• Southern Europe