Garrigues takes top role on €4.2bn Spanish banking merger deal
Garrigues has taken the lead role on Spain's largest-ever savings bank merger, as a trio of banks join forces in a €4.2bn (£3.7bn) deal. Caixa Catalunya, Caixa Tarragona and Caixa Manresa confirmed the merger deal earlier this week (17 May) and will now trade under the name Caixa Catalunya.
May 21, 2010 at 08:47 AM
2 minute read
Garrigues has taken the lead role on Spain's largest-ever savings bank merger, as a trio of banks join forces in a €4.2bn (£3.7bn) deal.
Caixa Catalunya, Caixa Tarragona and Caixa Manresa confirmed the merger deal earlier this week (17 May) and will now trade under the name Caixa Catalunya.
The Garrigues team advising on the tie-up was led by M&A partner Ramon Girbau and antitrust partner Lluis Cases, while fellow Spanish firm Cuatrecasas also took a role on the deal, with partners Jordi Puigbo and Guillermo Garcia advising on labour law.
Girbau said: "This merger could be considered as a perfect model for others to follow as it represents the first merger of savings banks in Spain under the Spanish 2009 rescue package for financial institutions."
The combined bank, which has received a €1.2bn (£1bn) injection from a state-financed bailout fund, has now set a target of a 20% increase in profits by 2015.
In March Garrigues advised Caixa Catalunya on the €556.8m (£505.9m) sale of half of its insurance business to Spanish insurance company Mapfre, which at the time marked one of the biggest transactions in Spain so far this year.
The leading Spanish firm, which recently posted a 12.6% increase in turnover to break through the €300m (£272m) mark, also advised on the €1.1bn (£959m) merger of savings banks Caixa Sabadell, Caixa Terrassa and Caixa Manlleu that was confirmed earlier this week.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Hengeler Advises On €7B Baltica 2 Wind Farm Deal Between Ørsted and PGE
2 minute read
Slaughter and May and A&O Shearman Advise as Latest UK Company Goes American
3 minute read
Linklaters Continues Renewable Energy Hot Streak With Latest Offshore Wind Farm Project
2 minute read
Trending Stories
- 1How the Court of Public Opinion Should Factor Into Litigation Strategy
- 2Debevoise Lures Another SDNY Alum, Adding Criminal Division Chief
- 3Cooley Promotes NY Office Leader to Global Litigation Department Chair
- 4What Happens When Lateral Partners’ Guaranteed Compensation Ends?
- 5Tuesday Newspaper
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
