Banco Cetelem acquires banking business of Spanish branch of Orange Bank

Cuatrecasas has advised BNP Paribas Personal Finance on acquiring, through its Spanish subsidiary Banco Cetelem, the banking business of the Spanish branch of the French credit institution Orange Bank, S.A.

The two banks have reached a commercial agreement to offer a solution of continuity to Orange Bank’s customers in Spain. Both entities will work together to support customers during their transition to Cetelem’s digital banking solutions during 2024.

With this transaction, Banco Cetelem substantially expands its client base and consolidates its position as a major player in the field of retail banking, beyond its usual consumer credit activity.

The Cuatrecasas advisory team for this process was led by Corporate partner Fernando Mínguez, with the support of Corporate senior associate Carlota Tojo who also specializes in financial services, and Rosa María Coloma. The labor advice was provided by a team led by partner Valentín García.