Clifford Chance advises Corporación Financiera Alba on its delisting takeover bid

Clifford Chance is advising the Spanish investment firm Corporación Financiera Alba (Alba) on the launching of a public takeover bid for the delisting of all its shares from the Madrid, Barcelona and Bilbao Securities Markets, at a price of 84.20 euros per share. The takeover bid is being made by Alba together with Mr Carlos March, chairman and main shareholder of Alba, and with Son Daviú, a company wholly controlled by Mr March.

The takeover bid is directed at all Alba shares, except for those held by shareholders who vote in favour of the delisting at the General Shareholders’ Meeting (convened at first and second call for 16 and 17 January 2025) and block their shares until the end of the takeover bid acceptance period. It has undertakings in that sense from shareholders holding a total of 94.46% of the share capital, so it will effectively be targeting a maximum number of shares representing 5.54% of the share capital.

The firm´s team that advises on the transaction is led by Javier García de Enterría, corporate / M&A consultant, together with senior associate Patricia Puertas and associate María Rodrigo, with the support of senior associate Octavio Canseco on certain regulatory aspects of the transaction.