Cuatrecasas advises on the acquisition of the banking business of the Spanish branch of Orange Bank

Cuatrecasas has advised BNP Paribas Personal Finance on the acquisition, through its Spanish subsidiary Banco Cetelem, of the banking business of the Spanish branch of the French credit institution Orange Bank.

The two banks have reached a commercial agreement to offer a continuity solution to Orange Bank’s customers in Spain. Both entities will work together to support customers during their transition to Cetelem’s digital banking solutions during 2024.

With this transaction, Banco Cetelem substantially expands its client base and consolidates its position as a major player in the field of retail banking, beyond its usual consumer credit activity.

The firm team in charge of advising on this process was led by Fernando Mínguez Hernández, partner in the corporate practice, with the support, among others, of lawyers Carlota Tojo, a senior associate in corporate, also a specialist in financial services, and Rosa Mª Coloma. The labour advice was provided by a team led by partner Valentín García.

Julia Gil