Generali Acquires 9.9% Stake in Spain’s Banco de Crédito Social Cooperativo

Cuatrecasas has advised Spain's Banco de Crédito Social Cooperativo, the parent company of Grupo Cajamar—Spain’s largest cooperative banking group and one of Spain’s ten most significant financial institutions by total assets—on Generali acquiring a 9.9% stake in the company for €150 million. Generali is one of the world's leading integrated insurance and asset management groups.

The transaction strengthens the strategic partnership between the two groups, which already collaborate in Spain's bancassurance market through Cajamar Vida and Cajamar Seguros Generales, insurance companies controlled by the Italian group and partly owned by the Spanish group.