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Garriges and Linklaters advise BBVA's taking over Unnim

Published on March 22, 2012

Read Garriges and Linklaters advise BBVA's taking over Unnim

Both lawyer’s offices, Garriges and Linklaters, placed in the front of the acquisition their best man, Fernando Vives (Garrigues) and Sebastián Albella (Linklaters) in what is the first biding takeover since the recent Spanish financial reform.

BBVA won last March 8th the first tender over a bank since the new Government took office and approved the financial reform. The Spanish bank BBVA, with the legal advising of the lawyer’s office Garriges, bought Unnim Bank, beating Santander, Popular and Ibercaja in the bidding and becoming the first Spanish bank by number of assets.

The lawyer’s office Garriges, presided by Antonio Garriges, has advised BBVA along the transaction (which had a cost of 2.000 million euros) and ...

Spanish banks present takeover bids on Unnim

Published on Feb. 22, 2012

Read Spanish banks present takeover bids on Unnim

Santander, BBVA, Popular e Ibercaja presented this Tuesday to the Banco de España their binding takeover bids over Unnim while Bankia and JC Flowers rejected bidding.

The banks interested in the acquisition of Unnim are evaluating the Protection Assets Scheme to cushion losses, which would be fueled by the resources of the Bank Deposit Guarantee Fund, that would benefit the potential buyer of the entity.

The most appealing entities to take over Unnim appear to be Banco Popular, which wants to increase their size and get ahead Banco Sabadell, and BBVA, which wants to gain presence in Cataluña. On the other hand, Ibercaja, even if they have been showing their interest in Unnim since a while ago, seems to have ...

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