Deals of the Year 2025: BAWAG acquisition of Barclays German retail business involves novel structure
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This deal involved the sale by Barclays Bank Ireland of its German retail banking business known as Consumer Bank Europe to the Austrian banking group BAWAG, with BAWAG having plans to grow the retail business in Germany and the broader DACH/NL region. The merger was implemented under the EU cross-border mergers regime and is an example of one of the first uses of this structure in the Irish market.
The winner of the M&A Acquisition International Banking Deal of the Year is BAWAG Group’s acquisition of the Barclay’s German retail banking business. The business was operated through its Hamburg branch serving the German and Austrian market. The sale was implemented by way of an Irish-law Scheme of Arrangement by way of reconstruction (a “Reconstruction Scheme”), followed immediately by a cross-border, cross-group merger implemented under the EU cross-border mergers....

 

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This article appeared in the June 2025 edition.