Hogan Lovells advises Grupo Invatlán on the acquisition of a majority stake in EBN Banco
Hogan Lovells has advised Grupo Invatlán in the acquisition of a majority stake in EBN Banco, reaching 60% of the capital of the Spanish financial institution. The transaction consolidates the presence of the Honduran group in the Spanish banking sector and represents the result of a strategic process developed over several years.
The firms’ corporate and tax team in Madrid has led the legal advice in all phases of the transaction. Partner Juan Garicano and counsel Eduardo Pérez have been at the forefront of the process, which has included the staggered acquisition of EBN Banco’s capital: an initial 9.97%, followed by 19.97% in July 2023, until the recent purchase of an additional 30% that has allowed Grupo Invatlán to obtain control of the entity.
The latest purchase transactions are subject to suspensive conditions, including the approval of the Bank of Spain and the non-opposition of the CNMV. In this process, the corporate M&A team, led by partner Lucas Osorio and associate Rocío Torres, has played a key role in structuring the transaction.
On the other hand, the FDI authorization procedure has counted with the participation of the competition team, led by partner Casto González-Páramo and senior associate Raquel Fernández.
Likewise, the transaction has required a due diligence process, in which five partners and 13 lawyers from up to six different practice areas have participated.
