BBVA Corporate & Investment Banking has acted as financial advisor to Grupo El Árbol in the sale of 100% of its share capital to the Dia Group (Distribuidora Internacional de Alimentación).
This transaction makes Dia (which will maintain the El Árbol brand) the operator with the largest number of retail outlets in Spain and strengthens the business of both chains through the valuable synergies generated.
The agreement involves the purchase of the shares of El Árbol for one euro, the assumption of the company's debt estimated at 99 million euros, concession of credit facilities for a maximum of 7.5 million euros and acquisition by Dia of a participative loan. The loan is made up of fixed payment of 26 million euros and a variable component with a maximum amount of 25.8 million euros.
This transaction is BBVA's seventh M&A deal in 2014 and the 15th in the last 12 months. It also consolidates the bank as the most active operator in Spain in operations in the consumer and retail sector.