PLMJ advises on the €35m sale of Banco Empresas Montepio

PLMJ advised the Banco Montepio Group on the sale of Banco Empresas Montepio to fintech firm Rauva for around 35 million euros.

The transaction is subject to approval by the Bank of Portugal.

The PLMJ team was led by Bruno Ferreira, managing partner and partner from the banking and finance and capital markets practices and was supported by Tomás Almeida Ribeiro, managing associate from the corporate M&A practice, André Abrantes, managing associate from the banking and finance and capital markets practices, Rita Romão, senior associate from the banking and finance and capital markets practices and David Cuba Topete, an associate from the corporate M&A practice.

PLMJ is also advising the Banco Montepio Group on the transfer of the assets, liabilities, operations and employees of Banco Empresas Montepio to Banco Montepio, which should be completed by the end of the year.