Abanca withdraws from the negotiations to take over 95% of the Portuguese company EuroBic. Both companies have not reached an agreement on the transaction "to the the agreed conditions have not been met for this purpose, "explained Abanca in a statement.
The agreement, communicated in mid-February, was subject, as it happens in this type of operations, to a due diligence process and authorizations from regulatory authorities. This would have been Abanca's fifth corporate operation since 2014 and the second in Portugal.
Abanca will continue to analyze purchase operations that provide synergies to your project in Portugal. In that country it has a solid and growing project, with a presence in the main cities and economic centers that has allowed it to position itself as the leading financial institution in advisory banking.
The Spanish bank currently has 71 points of sale, 500 collaborators and more than 80,000 clients in Portugal. In total, the Galician bank has 800 branches spread across eleven countries in Europe and America and a team made up of more than 6,000 professionals.