Clifford Chance has advised Spanish financial institution Banca March on the sale to Euroclear of Banco Inversis, a leading provider of global investment technology solutions and outsourced financial services.
Banco Inversis is a bank that specialises in the provision of investment technology solutions, including funds platform services, securities outsourcing, intermediation, funds depository and various other services to financial institutions, insurance companies and new players in the distribution of investment products. It provides services in several jurisdictions, including Spain and Luxembourg.
Euroclear will acquire an initial 49% stake in Inversis and will increase such stake to 100% around the end of 2027. Banca March will remain as a shareholder of Inversis until the acquisition of the remaining share capital by Euroclear and will continue to receive services from Inversis in the coming years. The transaction is subject to customary conditions precedent and regulatory approvals and is expected to be completed in Q4 2024 or Q1 2025.
This acquisition is a landmark transaction in the financial and investment technology sector in Spain and Europe.
The cross-border, cross-practice Clifford Chance team was led by Corporate / M&A counsel Miguel Barredo, together with associates MarĂa Vilar, MarĂa Viñas and LucĂa Alegre. The team was also formed by counsel Begoña Barrantes, from the Antitrust department, and counsel Fernando Escribano, from the Tax practice. Counsel Boika Deleva from Clifford Chance’s Luxembourg office supported on the Luxembourg law aspects of the transaction.
