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SRS and Morais Leitão advise on the sale of EuroBic's capital
"SRS Legal advised a group of EuroBic shareholders on the sale of 57.5 per cent of the bank's capital to Abanca. Morais Leitão advised the Galician bank.
The SRS Legal team involved in the operation was led by partner Alexandra Valente and consultant Gabriela Rodrigues Martins. The Morais Leitão team was led by partner Eduardo Paulino.
On Wednesday, Abanca announced that closed a deal to buy 100 per cent of EuroBic's capital. No values of the deal, which is still awaiting authorisation from the Bank of Portugal, but 300 million.
O Galician bank estimates that the transaction will be finalised in June 2024. A operation will allow Abanca to "triple its presence in the country" and "become the eighth largest bank in Portugal" with more than 300,000 customers, almost 250 branches and around 18.5 billion euros in turnover."
