Cuatrecasas advised Banco Inversis
, S.A. (“Inversis), a subsidiary of Banca March
, S.A., on investing in the Adepa Group
(“Adepa”), investment asset manager operating in Spain, Luxembourg, Italy and Chile.
The transaction’s closing is subject to approval by the Commission de Surveillance du Secteur Financier (“CCSF”). When finalized, Inversis will take on a 40% stake in a project company by combining a sale and a capital increase, while Adepa will own the remaining 60%. The transaction also includes the possibility for Inversis to acquire Adepa over seven years, as well as consolidating all management services provided to investment fund and pension management companies through Adepa’s Spanish subsidiary.
As the companies involved have stated, this alliance will enable them to speed up their plans for international expansion, creating a unique business services model in the financial sector.
Fernando Mínguez, partner in the Cuatrecasas Corporate and Commercial Practice (financial and insurance services) led the transaction with the participation of lawyers Carlota Tojo
and Julián Ruan, also from the same practice. Valentín García
, Miguel Sánchez
, Miguel Ángel Castaño, Mariano Núñez and Juan Gómez—from the Madrid office—and Macarena Ravinet
, Roberto Guerrero
, Franco Andrés Dalmazzo, María del Pilar Illanes and Yael Schwartstein—from the Santiago office—also participated in the transaction. Cuatrecasas received support from the Luxembourg law firms Elvinger and Ogier, and Chiomenti helped with the due diligence on Italian assets.