Cuatrecasas has advised JC Flowers & Co. on selling Vall Banc to Crèdit Andorrà. The transaction—whose formalization is subject to approval by the authorities—marks an important step toward consolidating the Andorran financial system.
Founded in 2015 as part of the restructuring process of Banca Privada d’Andorra, Vall Banc has been the only Andorran bank to date with an international shareholder specializing in the finance sector. In 2016, it was acquired—also with the support of Cuatrecasas—by vehicles managed by JC Flowers, leader in worldwide private investment in the financial services industry. Since then, Vall Banc has specialized in the private banking business segment, including investments in Spain.
With this transaction, Crèdit Andorrà consolidates its leadership on the Andorran market, accelerates the objectives set out in its 2021-2023 Strategic Plan, and reinforces its strength in the main business indicators. For JC Flowers, the completion of this transaction represents the successful culmination of its first experience on the Iberian Peninsula, following an significant contribution to the Andorran financial sector.
Cuatrecasas lawyers Fernando Mínguez, Carlota Tojo, Guillem Martínez and Saúl Sales advised JC Flowers on this transaction.