Grupo Catalana Occidente takeover bid launched with Inocsa's offer
Deal News | Apr 01, 2025 | Iberian Lawyer
Investment company Inocsa has launched a voluntary takeover bid to acquire the remaining 37.97% of shares in Grupo Catalana Occidente (GCO) that it does not already own. The bid offers shareholders the choice of receiving 50 euros per share in cash or opting for a share swap as described in the offer documentation. Inocsa currently holds a controlling interest of 62.03% in GCO, and this existing stake will be immobilised throughout the acquisition process, aiming to purchase the remaining shares at an estimated total value of 2.277 billion euros. Legal advisory for Inocsa is being provided by Cuatrecasas, with a team led by partners Gerard Correig and Roger Freixes, and supported by lawyers from their Equity Capital Markets division. Grupo Catalana Occidente is receiving legal counsel from Prez-Llorca, with a team led by corporate partners Francisco Iso and Javier Carvajal.
Sectors
- Financial Services
- Legal Services
- Investment & Holdings
Geography
- Spain – All companies and legal entities involved in this transaction are based in Spain, making it the primary geographical focus of this article.
Industry
- Financial Services – Grupo Catalana Occidente operates within the financial services industry as an insurance company, making this transaction significant within the sector.
- Legal Services – Both Cuatrecasas and Prez-Llorca are law firms engaged in providing legal advisory services in this transaction.
- Investment & Holdings – Inocsa, as the acquiring company, is involved in investment and holding activities, contributing to its interest in purchasing shares.
Financials
- 2,277,000,000 euros – The total estimated value of the takeover offer for the remaining shares of Grupo Catalana Occidente.
- 50 euros – The cash offer per share made by Inocsa to the shareholders of Grupo Catalana Occidente.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Grupo Catalana Occidente | Target Company | Company | A leading Spanish insurance company being targeted for a takeover. |
| Inocsa | Bidding Company | Company | The investment company offering to buy the remaining shares of Grupo Catalana Occidente. |
| Cuatrecasas | Legal Advisor to Inocsa | Company | A law firm that advises Inocsa on the legal aspects of the takeover bid. |
| Prez-Llorca | Legal Advisor to Grupo Catalana Occidente | Company | A law firm representing Grupo Catalana Occidente in the transaction. |