Global law firm Ashurst has advised long-time client Cerberus Capital Management on its disposal as shareholder of the Haya Real Estate servicing business in Spain to Intrum Holdings.
Through a competitive M&A process, Cerberus brokered the deal and then arranged for agreement via lock-up of an ad-hoc bondholder group. It is anticipated that completion can occur by October 2023, subject to the approval of the National Markets and Competition Commission in Spain and the formal cancellation of the existing guarantees on the company's shares and assets.
The Ashurst team was led by corporate partners Molly Woods (London) and Jorge Vázquez (Madrid) supported by a multi-disciplinary cross border team from across the UK and Spain. Jorge and Molly were assisted on corporate aspects with support from senior associate Kiara De Silva and associate Juan Casal in London. Counsel Tannia Rodríguez and associates Beatriz Aizpun, María López Garayalde and Marta Timoner assisted in Madrid.
The wider team included partner Eduardo Gracia, counsel Jorge Ramirez and associate Marina García Vallejo advising on tax from Madrid and partner Patricia Allen and associate Aaron Robertson advising on UK tax aspects. Spanish Partner Rafael Baena, counsel Javier Torrecilla and associate Teresa Prado led on competition with partner José Christian Bertram and associate Ignacio Piñeiro (finance), counsels Cristina Grande (employment) and Carmen Profitós (tax litigation) and Miguel Carbonero (disputes) assisting on matters in their respective areas of expertise.
