Spanish firm Garrigues has advised US private equity fund Apollo Global Management on its purchase of EVO Banco, a unit of nationalised Spanish lender Novagalicia Banco (NGC Banco), for €60m (£50m). The deal marks the first time an international private equity fund has bought a Spanish bank, and will require special approval from the Bank of Spain, which Garrigues said was an “important regulatory development at the Spanish and European level”.
September 19, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Spanish firm Garrigues has advised US private equity fund Apollo Global Management on its purchase of EVO Banco, a unit of nationalised Spanish lender Novagalicia Banco (NGC Banco), for €60m (£50m).
The deal marks the first time an international private equity fund has bought a Spanish bank, and will require special approval from the Bank of Spain, which Garrigues said was an “important regulatory development at the Spanish and European level”.
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