DLA Piper has advised CVC Capital Partners, one of the world's largest private equity funds, on the sale of Quironsalud, Spain's largest private healthcare group, to Fresenius SE, Europe’s biggest publicly traded health-care provider, for €5.76 billion.

Quironsalud manages 43 hospitals, 39 outpatient centers and 300 “occupational risk centers” across Spain, and projects revenue of approximately 2.5 billion euros for 2016. Upon completion of the transaction, Fresenius and its healthcare arm, Helios Kliniken, will become the largest group in Europe's healthcare sector, and the second largest in the world with over 100,000 employees and 155 health centers.

The deal has been structured on a cash and share basis with shares of Fresenius being issued as part of the consideration. The transaction is subject to antitrust clearance.

Juan Picón, DLA Piper Global Co-Chairman, commented: "It is always a privilege to act for CVC and this particular transaction has been very rewarding given its complexity and significance. The deal is the largest deal that we have seen in Spain this year and one of the largest M&A and private equity deals in Europe overall."

The DLA Piper team was led by Global Co-Chairman Juan Picón, working alongside Corporate partner Jose Antonio Sanchez-Dafos, of counsels Enrique Chamorro and José Ignacio Monedero, legal director Joaquin Hervada, senior associate Luis Borrero, associates Teresa Nuño, Pablo Garcia and Laura Llanos in Madrid. Corporate partners Andreas Meyer-Landrut and Benjamin Parameswaran and counsel Cristina Helena Villafrade acted on the German aspects of the transaction.