Cuatrecasas advises Zolva on the sale to Cerberus of its servicer in Spain and Portugal and a €6,000m portfolio in NPLs
Cuatrecasas has advised the Norwegian group Zolva in the competitive process for the sale of its servicer in Spain, with a presence in Portugal through a branch office, and of a portfolio of 6 billion euros par value in unsecured NPLs.
The aforementioned process, in which some of the main players in the sector participated, concluded on August 1, with the U.S. fund Cerberus as the successful bidder. With the closing of this double transaction, Zolva completes its divestment plans in its debt recovery, paperwork management and legal businesses in the Iberian Peninsula.
For Cerberus, the acquisition of Zolva reinforces its strategic commitment to the Iberian market and its capacity to provide comprehensive services in the sector, adding almost 350 employees to its current workforce.
The firm team in charge of the advisory services was led by lawyers Fernando Mínguez and Íñigo Rubio, accompanied by Carlota Tojo, Miguel Sainz de los Terreros and Jordi Vergoni. Alejandro Negro and Pablo Tena also participated in the IP and data protection aspects, and Javier Calle in tax matters.
