KPMG Abogados has advised GED Capital on the sale of its Spanish software developer GTT to British AnaCap for €120 million
GED Capital has agreed to sell Spanish software developer Gestión Tributaria Territorial (GTT) to British AnaCap Financial Partners. Founded in 1998, GTT develops tax management software for local and regional governments in Spain. GED picked up a majority stake in the company in 2017. The company’s specialized services offer tax advising, consulting, training, collaboration in the management and design of information systems, enabling the independent companies and the government in the modernization and to obtain improvement tax results.
With this operation, valued at €120 million, AnaCap breaks into Spain, where until now it had participated in several sales processes related to the financial sector.
This deal brings to an end the process that began last autumn when GED hired Rothschild investment bank to find a buyer. The process did not officially begin until last February but has not been halted by the COVID-19 pandemic.
The seller has been advised by Rothschild, KPMG Abogados, Arthur D. Little and King & Wood Mallesons.
KPMG Abogados´ team, which advised GED Capital onTax Structuring and Tax Due Diligence matters, was led by partner Álvaro de Silva (pictured).