GA_P advises ING on the acquisition of a 44% stake in Singular Bank

Gómez-Acebo & Pombo has advised ING on the acquisition of a 44% stake in Singular Bank, a leading Spanish private banking and wealth management institution.

The transaction was completed through the acquisition of part of the stake previously held by Warburg Pincus. The US private equity firm agreed to sell its 93.41% shareholding in Singular Bank to a group of investors that includes ING, Actinver, ProA Capital and several Spanish investors. The deal marks the definitive exit of the US private equity firm from the bank’s shareholder structure and represents a significant milestone in the evolution of Singular Bank.

With the acquisition of a 44% stake, ING reinforces its strategic position in the Spanish private banking market and becomes a key shareholder in Singular Bank. The investment supports ING’s ambition to expand its wealth management and private banking offering across Europe, while further strengthening its presence in Spain.

The transaction comes at a time of continued growth and transformation in the financial services sector. As demand for private banking and wealth management services increases, financial institutions are seeking to enhance their capabilities and broaden their client offering through strategic investments and partnerships.

The ING Singular Bank transaction

The ING Singular Bank transaction reflects the growing attractiveness of the Spanish wealth management market for both domestic and international investors. It also highlights the relevance of specialised financial institutions such as Singular Bank, which has built a strong position in the private banking sector by offering tailored services to high-net-worth individuals and families.

The transaction enables Singular Bank to enter a new phase of growth supported by a diversified shareholder base with long-term investment objectives. At the same time, the ING Singular Bank transaction reinforces ING’s commitment to developing its private banking platform and expanding its footprint in key European markets.

The Team

The Gómez-Acebo & Pombo team advising ING on the acquisition of its stake in Singular Bank was led by Augusto Piñel and included Valentina Rodríguez Hernández, Sergio Gómez López, Carlota Mazzuchelli Morales, Guillermo Menéndez Herrero, Ignacio Miró Segarra and Jaime Goez Sanz from the Corporate/M&A practice.

The transaction also involved lawyers from several other practice areas across the Firm. The Regulatory team included José Francisco Canalejas Merín, Ana Martínez-Pina, Pablo Muelas García and Gloria García Caballero. The Criminal Law team comprised Javier Vinuesa Magnet, María Flora Morillo Velarde Galán, Marta Martínez-Almeida de Navasqüés and Adrián A. Fernández García. The Employment team included Delia Castaños Domínguez and Beatriz García-Ferrer Giménez. The Intellectual Property team comprised Bárbara Sainz de Vicuña, Diego Ibáñez Bueno and Nicolás Morales Pinedo, while Natalia Lastres Méndez and Íñigo Lastres Velasco advised on Real Estate matters.