UM steers Unicaja´s formal merger negotiation with Liberbank

Uría Menéndez is advising Unicaja on the negotiation of its merger with Liberbank

On October 5, Unicaja and Liberbank announced preliminary talks on a possible merger without the assistance of external advisers. Now, both financial entities have designated external advisers to steer the Due Diligence process for the formal negotiation of the possible consolidation of their business to create the country’s fifth-biggest lender with over €100 billion in assets volume.

Both banks have designated the same advisers involved in their previous merger attempt that was called off in May 2019 after they failed to agree on a share swap. Mediobanca, Uría Menéndez and PwC will advise Unicaja while Deutsche Bank, Ramón y Cajal Abogados and Deloitte will counsel Liberbank.

Uría Menéndez team advising Unicaja comprises counsel Carolina Albuerne (picture centre) and senior associate María Vidal-Pardo (pictured right), along with its managing partner Salvador Sánchez-Terán.