Cuatrecasas has advised Inoc, S.A. on the approximately €2.277 billion financing granted by a syndicate of financial institutions to fund the purchase price in the context of the voluntary public takeover bid (OPA) for the shares of Grupo Catalana Occidente not currently controlled by Inoc, S.A. (i.e., 37.97%). The offer financing was fully underwritten from the outset by CaixaBank (as Sole Bookrunner and Underwriter) and subsequently syndicated among the group’s main banks: Banco Santander, Bankinter, BBVA, and BNP Paribas, Spanish Branch.
The Cuatrecasas team advising Inoc, S.A. on the transaction was led by partner Manuel Follia, alongside lawyers Iñigo Várez and Antonio Ridao from the Finance team.
CaixaBank and the syndicate of financial institutions were advised by Jimena Urretavizcaya, partner at A&O Shearman, together with Sofía Sánchez-Calero and Marta Peláez.
Commenting on the advice provided, Manuel Follia said: “We are very grateful to Inocsa for entrusting us with one of the most significant financing transactions of the year. Advising on the financing required a major collective effort by our team and the Equity Capital Markets team led by Gerard Correig and Roger Freixes to ensure the proper functioning of the financing structure within the context of the takeover bid. This transaction further positions us as a leading firm for complex financings in capital markets transactions.”
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