EP Corporate Group’s Acquisition of 50 per cent of Caprabo and Cecosa

EY Abogados advised EPCG and Deloitte Legal advised Eroski on the deal.

The Basque retail group Eroski reached an agreement with the investment holding company EP Corporate Group to become an equal partner in the company Supratuc 2020, which encompasses the businesses in Catalonia and the Balearic Islands, under which it operates the Caprabo and Cecosa supermarkets.

The transaction allows Eroski to improve its financial position and to fulfil the debt repayment commitment set for the end of this year, in an amount higher than the amount committed to the financial institutions, and will boost the relaunch of investments and activity in Catalonia with the Caprabo brand and in the Balearic Islands with the Eroski brand. The full effectiveness of the closing of the transaction is subject to certain conditions precedent, including certain regulatory and contractual authorisations.

EY Abogados team for EPCG was led by partner Francisco Aldavero (Picture), along with senior manager Rosa Cañas, that advised on legal matters, and partner Elena Sánchez and manager José Manuel Gutiérrez, that provided Tax advice.

Deloitte Legal advised Eroski with a Corporate and M&A team led by partners Sharon Izaguirre and Ignacio Sanjurjo, with the assistance of principal associates Agustín del Río and Mario Gimaré.

Involved fees earner: Agustín del Río Galeote – Deloitte Tax & Legal; Mario Gimaré – Deloitte Tax & Legal; Sharon Izaguirre – Deloitte Tax & Legal; Ignacio Sanjurjo – Deloitte Tax & Legal; Francisco Aldavero Bernalte – EY (Ernst & Young); Rosa Cañas Lorenzo – EY (Ernst & Young); Elena Sánchez Llorente – EY (Ernst & Young);

Law Firms: Deloitte Tax & Legal; EY (Ernst & Young);

Clients: EP Corporate Group; Eroski;

Author: Federica Tiefenthaler