Cuatrecasas has advised Grupo Catalana Occidente on the acquisition of Mémora, the leading funeral firm in the Iberian Peninsula, from the Ontario Teachers’ Pension Plan (OTPP).
The transaction, although is subject to authorisation by the competition authorities in Spain and Portugal, amounts to €387.5m and allows Grupo Catalana Occidente to position itself as a leader in funeral services.
The value of Mémora, including the debt of the group, reaches approximately €600m. The company, which employs around 1,500 professionals, owns or controls the management of 139 morgues, 39 crematoria and 18 cemeteries, performing up to 50,000 services per year.
Cuatrecasas advising team formed by the partner, Gerard Correig (pictured); the senior associates Francisco Martins and Roger Freixes; the associate, Pau Masana, and the counsel, Marta Pereira.