Cuatrecasas acts for Mutua on Orienta Capital stake purchase

Cuatrecasas has advised insurance group Mutua Madrileña on the acquisition of 40 per cent stake in Orienta Capital

Grupo Mutua and Orienta Capital SGIIC have reached an agreement whereby the insurance company will acquire 40 per cent of the capital of Orienta Capital, an investment fund manager specialised in private banking, with offices in Madrid, Bilbao and San Sebastian.

The Boards of Directors of both companies have already approved the operation, which is expected to be completed in the first quarter of 2021, once the authorisations from the competent bodies have been obtained. The operation also contemplates the option that Mutua Madrileña can acquire at least an additional 40 per cent of the company by the end of 2023, thus reaching or exceeding 80 per cent of the capital.

Orienta Capital, with more than 15 years of history, provides financial advisory services to more than 1,800 clients and currently has €1,820 million under advice or management. It currently has 59 professionals on its staff, of which 29 are asset advisors.

With this acquisition, the fifth in the field of private banking and asset management in the last two years, the Mutua Group takes another step forward in its objective of inorganic growth in the field of asset management, which is precisely one of the central axes of its 2018-2020 Strategic Plan.

Cuatrecasas had previously acted as legal counsel to Mutua on Alantra WM, Alantra SGIIC and EDM deals, and has advised now on the purchase of Orienta Capital with a team led by Madrid office M&A partner Eduardo Ramírez (pictured), along with associates Natalia Tallada, Álvaro Lucena and María Corzo. The firm also assisted with a Due Diligence team.

Orienta Capital was advised by Bilbao-based law firm Biscay Consulting.