Arcano advises Bank Degroof Petercam in the sale of its Spanish private banking subsidiary
Transaction rationale
The Financial Institutions Group (FIG) of Arcano Investment Banking acted as financial advisor to the Seller, accompanying Bank Degroof Petercam in the sale of its Spanish subsidiary group including Bank Degroof Petercam Spain, Degroof Petercam S.G.I.I.C and Degroof Petercam Corporate Finance:
- Degroof Petercam, one of the leading private banking institutions, has announced an agreement to sell its wholly-owned Spanish private banking subsidiary to Andbank España, as part of its strategic plan.
- With offices in Madrid, Barcelona, Valencia and Bilbao, Bank Degroof Petercam Spain S.A. dates back to the year 2000 with the acquisition of PrivatBank, which subsequently became Bank Degroof Petercam Spain S.A.
- Andbank is focused on further consolidating its position in Spain, which is further strengthened by this agreement with a volume of 12 billion euros of assets under management and the incorporation of a solid team that will contribute its expertise in wealth management.
Arcano continues its consolidation as one of the leading financial advisors in M&A transactions within the financial services industry in Spain and Portugal, having successfully closed more than 100 transactions since 2016.
