Financial advisors to the seller

Client: Sabadell

Category: Financial Institutions

Description: GBS Finance acted as financial advisor to Ibersecurities, a firm that provides both on-line and off brokerage service to individual and companies, in the sale of 86% of the company to Banco Comercial Portugues and the Spanish Banco de Sabadell, for a consideration of about EUR 66m.Under the terms of the agreement, each firm will hold a 43% stake in Ibersecurities, which corresponds to an investment of EUR 33m. The new online bank, to be headquartered in Madrid, will be specialized in asset management, investment advisory services and brokerage.