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Thursday, February 22, 2024

Baker advises BTD on the sale of Aguas La Toja to Gestagua

Baker McKenzie has advised BTD on the sale of Aguas La Toja, the company in charge of the integral water cycle in one of the most iconic places in Galicia, to Gestagua

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Gestagua, the water subsidiary of the Saur Group, continues with its corporate growth plan in Spain, with a special focus on the integral water cycle in Galicia. The company, which already operates in Lugo, Pontevedra and A Coruña, has signed the purchase of Aguas La Toja, the company in charge of the integral water cycle in one of the most iconic places in Galicia, the island of La Toja, in the municipality of O Grove. Until now, Aguas La Toja was controlled by the Spanish BTD, a group specialising in the provision of environmental and educational services, which acquired it in 2017.

The history of Aguas de La Toja is closely linked to the Galician financial sector. It was originally part of Gestora Inmobiliaria La Toja, a holding company controlled by the former Banco Pastor. In 2012, it moved to the perimeter of Popular and in 2017 it was transferred to Santander. At the end of that same year, it was sold, as part of the bank’s non-strategic divestment plan, to BTD.

The terms of the purchase completed by Gestagua have not been disclosed. This is the first time that Aguas La Toja has become part of a group dedicated exclusively to water management.

Baker McKenzie advised BTD with a Corporate/M&A team formed by partners Luis Casals and Juanjo Corral, and associate Modesto Puerta.

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