Allianz advised by MLGTS on Banco BPI deal

Allianz Group was advised by MLGTS on the sale of its shares in Portugal’s Banco BPI to CaixaBank.

CaixaBank was advised by Cuatrecasas on the deal.

The shares represented 8.4 percent of Banco BPI’s share capital.

The transaction was valued at €178 million euros, or €1.45 per Banco BPI share. As a result, CaixaBank’s stake in the share capital of Banco BPI will rise to 92.9 percent.

An Allianz statement said: “In addition, Allianz has agreed with CaixaBank to reorganise the insurance business partnership through Banco BPI in Portugal, the aim of which is to maintain and strengthen cooperation for the distribution of non-life insurance. The new terms will be subject to approval by the governing bodies of Allianz Portugal and Banco BPI.”

The MLGTS team included partners Ricardo Andrade Amaro (pictured), Tomás Vaz Pinto and Eduardo Paulino, senior associate Margarida Torres Gama, of counsel Margarida Lima Rego, managing associate Pedro Gouveia e Melo and associate Marta Pereira Rosa.