GC counsels Bradesco on acquisition of Ictineo Plataforma

Gonzalez Calvillo has counselled Banco Bradesco, through its Mexican subsidiary Bradescard Mexico, on the closing of the acquisition of Ictineo Plataforma, a financial institution regulated by the National Banking and Securities Commission (CNBV).

The transaction, signed in August 2022 and closed on 12 February 2024, was subject to various regulatory approvals in both Mexico and Brazil, including the authorisation of the change of control by the CNBV.

With the closing of this acquisition and the corresponding authorisations obtained, Bradescard will seek to offer comprehensive financial services through digital platforms to its customers in Mexico.

Other participating firms were BGBG and Bartolini Consultoría as external legal advisor to the sellers, and Akya as external consultant to Bradesco.

Thanks to this acquisition, Bradesco will be able to offer its customers the opening of deposit accounts, with Bradescard having approximately 3 million customers holding credit cards in Mexico issued in partnership with 5 companies, one of which is C&A (retail shop in Mexico).

Akya’s team was represented by Daniel Reséndiz; BGBG’s by Miguel Gallardo; and Bartolini Consultoría’s by Luis Bartolini E.

GC’s team was led by partner Enrique Gonzalez Calvillo, with support from partners Bernardo Reyes Retana (pictured left) and Daniel Guaida (pictured right), counsel Alberto Bustamante, associates Alvaro Chávez, Carolina González, José Alfonso Fernández and Héctor Ferrari, and intern Patricio Webber.