Linklaters advises Novo Banco on €262M Unicre deal

Linklaters in Lisbon has advised Novo Banco on its agreement with Unicre to acquire the latter’s consumer credit business, operated under the Unibanco brand. The transaction involves the transfer of Unicre’s consumer credit portfolio, including credit cards, debt consolidation and personal loans, with a net book value of approximately €262 million (as of June 2024), as well as the Unibanco brand and other assets and liabilities associated with the business unit. Completion of the transaction is subject to customary conditions and is expected to take place during the first quarter of 2026.

Linklaters’ multidisciplinary team advised Novobanco throughout all stages of the process, including the negotiation and execution of the Business Transfer Agreement, as well as the regulatory, tax and contractual analysis of this strategic transaction, which will allow novobanco to strengthen its position in the domestic consumer credit market.

The legal team involved in this transaction comprised partners Rui Camacho Palma, Diogo Plantier Santos, Vera Ferreira Lima, as well as counsel Mariana Serra Baptista, associate Beatriz Morais, associate Rita Albuquerque, managing associate Sílvia Pinheiro Esteves, head of the employment group Inês Garcia Beato and associate Nadia Zatic.