Overview
- The purchase was signed at 23:40 on December 31 as the consortium’s exclusivity window expired after it prevailed over bidders including Blackstone in AMCE’s sale process.
- The transaction totals €480 million and is structured as roughly €300 million in equity with about €177 million in assumed debt.
- BBK and Indar are committing €100 million each, Teknei is contributing around €10 million, the Basque Government’s amount was not disclosed, and public vehicle Vital is assessing a small minority entry.
- Kutxabank’s patronato cited a technical report opposing the investment, warning it fails the business–risk–return test, questions Teknei’s experience, and leaves high post-transaction leverage.
- Current CEO José Luis Manzanares Abasolo is set to depart after a transition, while employees in Donostia voiced relief and expect continuity as the precise headquarters location within Euskadi is determined.