Italy’s doBank has agreed to buy 85% of Altamira Asset Management, valuing the entire company at €412m in a bid to create a leading European credit manager. doBank’s stake in Altamira could rise to 100% if Spain’s Banco Santander, which holds the remaining 15%, exercises its tag-along rights provided for in an existing agreement before the closing of the deal. With assets under management of around 55 billion euros and operations in Spain, Portugal, Cyprus and Greece, Altamira is expected to help doBank create a leading operator in credit management and real estate services for banks and investors in Europe.