Morabanc to acquire 85% stake in Tressis for $59m.

Morabanc, a banking group, agreed to acquire 85% stake in Tressis, a wealth management and financial service company, for $59m. Andorra’s Morabanc is said to be launching in the Spanish market through the acquisition of fund platform Tressis, according to local trade publications Funds People and Expansión.