Overview
- The transaction is structured at roughly €300 million in equity with about €177 million of assumed debt, according to details reported alongside the announcement.
- BBK and Indar are committing around €100 million each, Teknei about €10 million, the Basque government’s exact cash stake remains unspecified, and Vital is weighing a small minority entry near €10 million.
- A technical report from Kutxa’s board argues the investment fails its business–risk–return test, questions Teknei’s suitability as industrial partner, and flags high post-deal leverage.
- The buyers plan management continuity during a transition in which CEO José Luis Manzanares Abasolo will leave the company.
- A&M Capital Europe sold the unit it owned with the Manzanares family in a competitive process that included Blackstone, with the deal set to return the decision center to Euskadi for a firm reporting about €570 million in revenue and 11,000 employees.