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Banco de Sabadell £1.7 billion acquisition of TSB Banking Group

1/6/2015
Public acquisition
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£ 1.7 billion

$ 2.080 billion

Completed

1/6/2015

Overview:

  • Banco Sabadell has acquired UK bank TSB from Lloyds Banking Group for £1.7 billion.
  • The move comes after the separation and IPO of TSB in June 2014.
  • Sabadell will use the acquisition as a way to gain a foothold in the UK market.

Sam Duke - Editor

Jurisdictions:

Spain
United Kingdom

Deal type:

Public acquisition

Practice area:

M&A

Industry sector:

Banking

Firms:
A&O Shearman

Party: Banco Sabadell (Acquirer)

Lawyer: Richard Browne

Herbert Smith Freehills

Party: TSB Banking Group (Target)

Lawyers: James Palmer, Mike Flockhart

Linklaters

Party: Lloyds Banking Group (Seller)

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