Banco de Madrid, S.A. agreed to acquire Liberbank Gestion, S.G.I.I.C., S.A. from Liberbank SA for €23.5 million on January 4, 2013. The deal is subject to regulatory approval and is expected to close in the first half of 2013. GBS Finanzas, KPMG Corporate Finance, Spain acted as financial advisors and Rafael Núñez-Lagos and Carlos Franco of Uría Menéndez Abogados, S.L.P. acted as legal advisor to Banco de Madrid.

Deloitte S.L. acted as accountant, Deloitte Transaction Advisory Services España acted as financial advisor and Ashurst LLP acted as legal advisor to Liberbank SA.