Monday, 9 July, 2007

Vistra acquires Monterey Group.

Vistra is delighted to announce that it has reached an agreement regarding the sale of 100% of Monterey Group to Vistra. The sale is subject to regulatory approval from the Dutch Central Bank. Weeks after the acquisition of Benelux Trust, Vistra again reinforces its ambition to become a leading independent provider of trust and corporate services. Monterey Group is the combination of Monterey, a fiduciary business formerly owned by Fortis, and Rijnhove Group, a Dutch accounting and fiduciary business with roots that go back to 1989. Monterey Group employs 37 staff, of which 32 are in The Netherlands and 5 are in Curaçao. This acquisition not only strengthens Vistra’s presence in the Netherlands but also adds Curaçao to our global footprint. In The Netherlands, Vistra will now be able to serve customers from Breda, as well as Amsterdam, thus providing perfect coverage for two complimentary business feeder networks. The acquisition of Monterey Group is an important step in executing Vistra’s strategy and fits in perfectly with our aim to develop our business in carefully selected jurisdictions. Further expansion of our network in the Netherlands has been a key priority. The combination of being a member of the European Union and having negotiated double taxation treaties with over eighty countries, makes the Netherlands a particularly attractive base for domiciling international business operations. Click here for full press release.

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