Banco Popular has reached an agreement with the American investment manager Värde Partners to sell its 51% stake in Bancopopular-e, the company responsible for the card issuing business. The sale includes Citibank España’s bank card business, bought by Banco Popular in June.

Cuatrecasas, Gonçalves Pereira has advised Banco Popular through a multidisciplinary team from the Madrid office’s banking, corporate and commercial and taxpractices. Partners Fernando Mínguez, Pedro Fernández and Fernando Remón led the transaction, together with senior associate Rebeca Rodríguez and associates Marcos García, Paloma Gurrea and Juan José Gómez Maldonado.

The Iberian firm also advised Banco Popular on buying Citibank España’s retail banking and bank card business in June.