HSF Advises Banco Santander on Bondalti’ Acquisition of Ercros

Herbert Smith Freehills, along with CS’Associados (Portugal), has provided legal counsel to Banco Santander and Banco Santander Totta on the Spanish and Portuguese legal aspects of the financing extended to certain companies within the Bondalti Chemicals group. This financing is part of the public takeover bid (OPA) launched by Bondalti Chemicals for the acquisition of the entire share capital of Ercros, a leading Spanish company in the chemicals and pharmaceuticals market. The acquisition, valued at €329.17 million, is a significant move in the industry, and HSF’s financial and banking legal team played a crucial role in advising Banco Santander throughout the process.

Bondalti Chemicals, a Portuguese chemical group, announced the voluntary public takeover bid (OPA) to acquire 100% of Ercros at €3.6 per share. The offer represents a 40.6% premium over Ercros’ closing price and underscores Bondalti’s strategic expansion in the industry. Herbert Smith Freehill’s expertise in financial and banking law, coupled with CS’Associados’ support, contributed to the successful legal navigation of this cross-border transaction.