Wednesday, April 17, 2024

Deloitte guides FROB´s takeover of Sareb

Deloitte Legal has advised Spain´s Executive Resolution Authority FROB on its acquisition of 4.24% of Sareb's share capital, thus reaching a 50.14% stake in this company and making effective the controlling takeover permitted by Royal Decree-Law 1/2022.


Deloitte Legal has advised the FROB on the recent acquisition of 4.24% of Sareb’s share capital, thus reaching a 50.14% stake in this company and making effective the takeover permitted by Royal Decree-Law 1/2022, taking effective control of the company.

Royal Decree-Law 1/2022 of 18 January eliminated the limits on the State’s shareholding in
Sareb (Sociedad de Gestión de Activos Procedentes de la Reestructuración Bancaria, S.A.), allowing the FROB to increase its stake in this company’s capital.

Following the meeting of the reduced Governing Committee on 1 April, at which it was agreed the formalisation of the sale and purchase, and having completed all the formalities for the sale and purchase, on 5 April, FROB´s acquisition of Sareb´s shares was formalised in a public deed on 5 April.

Following the acquisition of 4.24% of Sareb’s share capital, FROB now holds 50.14% of Sareb’s share capital, which has been formally notified to the company.

As a result, Sareb has amended its articles of association to reflect the new shareholder structure and formalised the exit of the proprietary directors representing private shareholders.

With this new shareholder structure, the Sareb Board of Directors has today named Javier Torres, until now proprietary director representing the FROB, the company’s new executive chairman, replacing Javier García del Río, who has resigned from the position for personal reasons.

Deloitte legal advised FROB with a team formed by partner and head of the firm´s Regulatory & Compliance area María Guinot, Regulatory & Compliance partner Manuel Angel Gómez Gilabert, principal associate Agustín del Río and lawyer Marc Castro.

- Advertisement -spot_img
- Advertisement -spot_img


Linklaters announces partner, counsel promotions

These appointments are in the context of Linklaters' new global election of partners and counsel, in which 41 new partners and 53 new counsel...

Pérez-Llorca, HSF advise o Peninsula Capital´s acquisition of Clínicas Dorsia

London-based Peninsula Capital has acquired a majority stake in WM Clinics, the company that owns the Dorsia, Eva and Origen brands specialising in aesthetic...

ONTIER, PM counsel on acquisition of Kinanos Solar by RJ Eurodevelopment

Ingeniería, Estudios y Desarrollos 100 FV has sold to RJ Eurodevelopment the Spanish company named Kinanos Solar, S.L., owner of two photovoltaic plants under...
- Advertisement -spot_img