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Monday, September 26, 2022
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A&O counsels ICG on reinvestment in Konecta and its merger with Comdata

A cross-border Allen & Overy’s team has advised Intermediate Capital Group (ICG) on the incorporation of a CX and BPO global leader through the combination of Konecta and Comdata, one of the most relevant transactions in the Spanish private equity market

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Konecta, the Spanish multinational technology company providing Costumer Experience solutions, has reached an agreement with the Italian firm Comdata to create the sixth-largest group in the sector globally. With this union, the new firm will reach almost 2,000 million euros in turnover and 300 million in Ebitda. The alliance of the companies, according to a statement, will create a world-leading operator “with a broad global presence and ‘best shoring’ capacity to provide services in more than 30 languages, to global, regional and local clients”. All this in a “wide range of sectors”, such as banks, insurance companies, industrial companies, retail and e-commerce, as well as transport, tourism, education and telecommunications.

The company resulting from this alliance will be headquartered in Madrid and chaired by Pacheco himself. Jesús Vidal Barrio, the CEO of Konecta, and Maxime Didier, his counterpart at Comdata, will be co-CEOs of the new group. According to the statement, the management team will bring to the table an “ambitious growth plan with the objective of capturing both organic and inorganic growth opportunities through an offering of end-to-end, multi-channel technology solutions based on Big Data, Artificial Intelligence, robotisation and automation.”

Allen & Overy Spain team was formed by: Corporate partner Ignacio Hornedo and senior associates Patricia Figueroa, Andrés Mochales and José Mollinedo; Banking partner Juan Hormaechea, senior associates Sara Sanz and Marina Jiménez; Antitrust counsel Jaime Rodriguez and associate Anabel Blasco; Public Law senior associate Leopoldo Reaño; Tax partner Adolfo Zunzunegui, senior associate Rafael Gimenez-Reyna and associate Juan José Sánchez and Employment senior associate Ana Hernández.

Other jurisdictions participants in this deal from Allen & Overy were:  Italy: Paolo Nastasi, Giorgio Savo, Chiara Pinto, Franceso Guelfi, Luca Amicarelli. UK: Neil Sinha, Xinni Lim, Alexander George, Harry Rouse y Alex Forzani France: Luc Lamblin and Czech Republic: Ivana Halamová Dobíšková.

Uría Menéndez has also advised Konecta on this deal with a Madrid office team led by M&A and Private Equity partner Tomás Acosta, Tax partner David López Pombo, Competition partner Tomás Arranz, Finance associate Ana Bengoechea, Tax junior associate Jesús Moas, Tax trainee Álvaro Martín and M&A and Private Equity trainee César Farrapeira.

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