Uría Menéndez acts for banking syndicate on Grupo Vips deal

Uría Menéndez advised a syndicate of banks led by BBVA, Bank of America and Banco Santander on the €635 million financing of fast food businesses Alsea and Zena’s acquisition of Grupo Vips.

The deal also involved the refinancing of Zena and Grupo Vips’ debt.

Uría Menéndez worked closely with Skadden, which advised the bank syndicate on on all New York law-related matters.

The banks were also advised by Galicia Abogados on Mexican law-related matters.

Uría Menéndez advised on the financing structure and the negotiation of the credit agreement. The firm was also responsible for coordinating the payment to the sellers and the cancellation of Grupo Vips’ debt.

Alsea and Zena were advised by DLA Piper on New York law and Garrigues on Spanish law matters. Grupo Vips was advised by Linklaters.

Uría Menéndez´s team was led by New York-based partner Javier Tortuero (pictured), and included Madrid-based senior associate Marta López Narváez, and New York-based senior associate Juan Alti. Also advising on the transaction was Madrid-based Uría Menéndez partner David López Pombo and senior associate Violeta Pina and New York-based senior associate Luis Suárez de Centi.