Grupo Invatlán Secures Majority Stake in EBN Banco
Deal News | Feb 12, 2025 | Iberian Lawyer
Hogan Lovells has successfully guided Grupo Invatlán in acquiring a controlling 60% stake in EBN Banco, a significant move in the Spanish financial sector. This transaction marks the culmination of a multi-year strategic investment approach by the Honduran entity. Legal advisement was provided by Hogan Lovells' corporate and tax team in Madrid, with key figures such as partner Juan Garicano and counsel Eduardo Perez leading the charge. The acquisition took place in phases, initially with a 9.97% stake, followed by 19.97% in mid-2023, and culminating in a final 30% purchase. Essential to the finalization are the suspensive conditions, requiring approval from both the Bank of Spain and the CNMV. Throughout the acquisition process, the deal required intricate structuring, attributed to the efforts of the corporate M&A team and the FDI authorization steering led by partner Casto González-Pramo. The transaction also involved a comprehensive due diligence process with the contribution of multiple partners and lawyers from various sectors.
Sectors
- Financial Services
- Legal Services
Geography
- Spain – EBN Banco, the target company, is based in Spain.
- Honduras – Grupo Invatlán, the acquiring entity, is a Honduran group expanding its footprint into the Spanish banking market.
Industry
- Financial Services – The primary focus of the transaction is the banking sector, involving Grupo Invatlán's acquisition of a majority interest in EBN Banco, a Spanish financial institution.
- Legal Services – Hogan Lovells, a legal advisory firm, played a pivotal role in structuring and facilitating the acquisition process for Grupo Invatlán.
Financials
- 60% – Grupo Invatlán acquired a 60% majority stake in EBN Banco.
- 9.97% – Initial acquisition stake by Grupo Invatlán in EBN Banco.
- 19.97% – Subsequent stake acquired in July 2023 by Grupo Invatlán.
- 30% – Final stake acquired by Grupo Invatlán to attain majority control.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Grupo Invatlán | Acquirer | Company | A Honduran financial group acquiring a majority stake in EBN Banco to expand its presence in the Spanish banking sector. |
| EBN Banco | Target Company | Company | A Spanish financial institution, subject of the acquisition by Grupo Invatlán. |
| Hogan Lovells | Legal Advisor | Company | Provided legal advisement for Grupo Invatlán throughout the acquisition process, from structuring to due diligence. |
| Bank of Spain | Regulatory Authority | Government | Approval by the Bank of Spain is one of the conditions for the transaction's completion. |
| CNMV | Regulatory Authority | Government | The transaction requires non-opposition from CNMV to proceed. |