Business Wire

GLAS Completes Its Acquisition of French Fiducie and Asset Management Firm, Pristine

Share

Global Loan Agency Services Limited (part of the global GLAS Group) is thrilled to announce the successful completion of its acquisition of Pristine. This marks the first acquisition by the GLAS Group, and also represents a key milestone in the organisation’s ambitious roadmap to deepen its presence in Europe.

This transaction was agreed in August 2023 subject to regulatory approval and customary closing conditions, with completion occurring in March 2024.

Pristine

Pristine is a leading fiducie and asset management business. It was established in Paris in 2016 and is regulated by the Autorité des Marchés Financiers (AMF).

Pristine provides a complementary set of services which include fiducie, fund structuring and administration services to both international and domestic institutions with the primary purpose of facilitating corporate financing activity for non-bank and bank lenders in France.

The firm has a deep and diversified history in restructuring, securitisation, structured finance, and other ad hoc financing projects.

GLAS France

The GLAS Group launched its French operations in Paris in 2018 and has since built out a sizeable team led by Aymeric Mahe, Head of GLAS SAS.

GLAS SAS is the only non-bank, independent company regulated by the Autorité de Contrôle Preduentiel et de Résolution (ACPR) to administer payments in France on loan transactions that forms part of a global group.

In addition to loan agency services, GLAS provides a range of institutional debt administration to domestic and international debt funds, corporates, and bulge bracket banks globally.

The firm is a market-leading provider in direct and syndicated lending, high yield, leveraged finance and capital market debt issuance.

GLAS SAS has also been involved with numerous high-profile restructuring cases in France such as SMCP, Orpea, Technicolor and Pierre & Vacances.

GLAS founders Mia Drennan and Brian Carne said:

“We are excited to finalise the Group’s first ever acquisition and further expand GLAS’s service capabilities. The AMF and ACPR regulatory permissions of Pristine and GLAS, along with our collective expertise and reputations in the debt markets, will allow us to offer an expanded offering of relevant services to our enlarged client base.”

Pristine Président, RenaudBaboin said:

“This acquisition signals the start of a fantastic partnership between GLAS and Pristine. The two companies are well matched across all aspects of the respective businesses and culture, and I am excited to see how the respective businesses flourish as a result."

Pristine Directeur Général, BenjaminRaillard added:

“We are happy to announce the closure of this transaction and begin integrating Pristine with the GLAS Group. It is an exciting time for the group and our customers who will soon be able to benefit from the synergies of the two organisation’s expertise. We are confident that this partnership will be a fruitful one for all involved.”

GLAS and Pristine’s plan for the future

The conclusion of this acquisition signifies GLAS’s commitment to offering an expanded suite of products and services to meet the needs of clients who participate in originating debt or investing in financial transactions in Europe.

The Pristine team will be located at GLAS SAS’s new Paris office on Avenue George V.

The two organisations will be continue to be separately regulated by the AMF and the ACPR. The two licences will allow GLAS and Pristine to offer an enhanced service to more customers on a greater number of transactions.

Since the original announcement of the proposal to acquire Pristine, GLAS have also, subject to regulatory approval, committed to partnering with Singaporean-based Watiga. Watiga will also join the GLAS Group’s global network.

About GLAS

GLAS was established in 2011 by Mia Drennan and Brian Carne. Today, it is the premier independent, non-creditor, conflict-free provider of loan administration and bond trustee services known for its white glove service and expertise on complex deal execution.

GLAS is a global company and is located in the USA, Europe, and APAC, with headquarters in London. GLAS services in excess of €360bn of assets under administration on a daily basis and employs over 300 professionals in the Group.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

media@glas.agency

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

“e4life” is Present at Expomed Eurasia with its Innovative Device Able to Inactivate Flu and Covid Viruses With an Efficacy over 90%19.4.2024 17:13:00 CEST | Press release

Expomed Eurasia, the most important medical exhibition between Europe and Asia, is ready to house more than a hundred companies, to discover new technological trends and the most innovative products which are going to change deeply the health market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240419226980/en/ e4life: e4ambient and e4you devices (Photo: Business Wire) This is a perfect occasion for e4life to present its device based on the e4shield technology which is able to inactivate flu and Covid viruses present in the air. A technology, patented in Italy, that uses neither chemical agents nor filtering materials, but it is based on the transmission of electromagnetic waves able to inactivate the viral load in aerosol. “This Exhibition represents an extraordinary opportunity to present our innovative technology (e4shield) in a dynamic and rapidly evolving region as Eurasia. In a climate of growing consciousness of the

Qualcomm Schedules Second Quarter Fiscal 2024 Earnings Release and Conference Call19.4.2024 15:00:00 CEST | Press release

Qualcomm Incorporated (NASDAQ: QCOM) today announced that it will publish the Company’s financial results for its second quarter fiscal 2024 on Wednesday, May 1, 2024, after the close of the market on the Company’s Investor Relations website, at https://investor.qualcomm.com/financial-information. The earnings release will also be furnished to the Securities and Exchange Commission (SEC) on a Form 8-K, which will be available on the SEC website at http://www.sec.gov. Qualcomm will host a conference call to discuss its second quarter fiscal 2024 results which will be broadcast live on May 1, 2024, beginning at 1:45 p.m. Pacific Time (PT) at https://investor.qualcomm.com/news-events/events. An audio replay will be available at https://investor.qualcomm.com/news-events/events and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use rese

Newmont Appoints Mining Industry Veteran Francois Hardy as Chief Technology Officer19.4.2024 14:56:00 CEST | Press release

Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announced the appointment of Francois Hardy as Chief Technology Officer (CTO). Francois will join Newmont’s Executive Leadership Team and lead the technical work across the business to improve operational performance and drive growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240419973025/en/ Newmont Appoints Mining Industry Veteran Francois Hardy as Chief Technology Officer (Photo: Business Wire) Francois will take over from interim CTO, Dean Gehring, who also served in a dual role as Newmont’s Chief Integration Officer. After a period of transition, Dean will be leaving the company in early July. Francois brings more than 30 years of technical and operational experience in mining to the role. He commenced with Newmont in 2002 and has held roles including Group Head Exploration, Managing Director Africa and General Manager Tanami. “Francois is a stron

SLB Announces First-Quarter 2024 Results, Targeting to Return $7 Billion to Shareholders Over 2024–202519.4.2024 12:50:00 CEST | Press release

SLB (NYSE: SLB) today announced results for the first-quarter 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240417469361/en/ The exterior of the SLB headquarters in Houston, Texas (Photo: Business Wire) First-Quarter Results (Stated in millions, except per share amounts)Three Months EndedChangeMar. 31, 2024Dec. 31, 2023Mar. 31, 2023 SequentialYear-on-yearRevenue $8,707 $8,990 $7,736 -3% 13% Income before taxes - GAAP basis $1,357 $1,433 $1,161 -5% 17% Income before taxes margin - GAAP basis 15.6% 15.9% 15.0% -35 bps 58 bps Net income attributable to SLB - GAAP basis $1,068 $1,113 $934 -4% 14% Diluted EPS - GAAP basis $0.74 $0.77 $0.65 -4% 14% Adjusted EBITDA* $2,057 $2,277 $1,788 -10% 15% Adjusted EBITDA margin* 23.6% 25.3% 23.1% -171 bps 51 bps Pretax segment operating income* $1,649 $1,868 $1,391 -12% 19% Pretax segment operating margin* 18.9% 20.8% 18.0% -184 bps 95 bps Net income attributable to SLB, excluding cha

Zayo Group Appoints New CEO of Zayo Europe19.4.2024 09:00:00 CEST | Press release

Zayo Group, a leading global provider of network infrastructure, has appointed Colman Deegan as its new CEO of Zayo Europe to drive the business’ growth as cloud and AI adoption continues across the continent. This appointment is effective as of April 16, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240419471253/en/ Colman Deegan, CEO Zayo Europe (Photo: Business Wire) Steve Smith, CEO Zayo Group, says, “Colman’s experience and proven track record as a CEO leading large teams and businesses makes him perfectly equipped to take our European business to new heights, together with our outstanding local team. Colman will drive Zayo forward, strengthening our partnerships with data centres, hyperscalers, and enterprises across Europe. Under Colman’s leadership, we are confident that we will achieve our bold ambitions and maximise our impact in the European market.” Deegan spent more than two decades at Vodafone where he h

HiddenA line styled icon from Orion Icon Library.Eye