Spain
Cuatrecasas advises Zolva on selling servicer in Spain and Portugal and €6 billion NPL portfolio to Cerberus
October 3, 2024
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SubscribeCuatrecasas has advised the Norwegian group Zolva on a competitive process for the sale of its servicer in Spain, with a presence in Portugal through a branch office, and a portfolio of unsecured nonperforming loans (NPLs) with a nominal value of €6 billion.
This competitive process, which attracted some of the sector’s leading players, concluded on August 1, with the US investment fund Cerberus as the successful bidder. The closing of this double transaction marks the completion of Zolva’s divestment plans in its debt recovery, paperwork management and legal businesses on the Iberian Peninsula.
For Cerberus, the acquisition of Zolva reinforces its strategic commitment to the Iberian market and its capacity to provide comprehensive services in the sector, adding around 350 employees to its current workforce.
The Cuatrecasas advisory team was led by lawyers Fernando Mínguez and Íñigo Rubio, assisted by Carlota Tojo, Miguel Sainz de los Terreros and Jordi Vergoni. Alejandro Negro and Pablo Tena also assisted with intellectual property and data protection matters, and Javier Calle with the tax issues.
October 3, 2024
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