In a significant move within Portugal’s financial sector, Sonae SGPS and Bankinter initiate a collaborative venture.
- This joint venture involves the sale of 50% of Universo IME to Bankinter Consumer Finance.
- The strategic partnership aims to establish a leading consumer credit entity in Portugal.
- Renowned law firm Morais Leitão meticulously orchestrated the legal intricacies of this transaction.
- The completion of this sale is contingent upon standard regulatory approvals.
In a landmark collaboration within the Portuguese financial market, Sonae SGPS and Bankinter are set to jointly transform the consumer credit landscape. The cornerstone of this partnership is the sale of 50% of Universo IME, an electronic money institution under the Sonae group, to Bankinter Consumer Finance. This strategic manoeuvre seeks to create a formidable presence in Portugal’s consumer credit sector.
Morais Leitão, a distinguished law firm, played a pivotal role in advising Sonae SGPS throughout the transaction. The firm provided comprehensive, multidisciplinary legal support, covering the structuring of the transaction, extensive due diligence, and the negotiation of crucial contractual agreements. The legal team from Morais Leitão included experienced professionals such as Magda Viçoso, Carolina Barrueca, Pedro Charters, Maria Soares do Lago, Philipp Melcher, Beatriz Lopes da Silva, and Inês Pinto Leite, each bringing specialised expertise to different facets of the deal.
This deal’s finalisation is conditioned upon the fulfilment of routine regulatory prerequisites, including approvals from the European Commission and the Bank of Portugal. These standard conditions are vital to ensuring compliance and safeguarding the interests of all involved stakeholders.
This partnership exemplifies a strategic alliance with the potential to significantly impact Portugal’s consumer finance sector.
