For the third quarter of 2024, TTR Data has selected the acquisition of 80% of Applus+ Idiada from the Generalitat de Catalunya by Applus+ as a highlight transaction.

Garrigues España has advised in this transaction, valued at EUR 428m. On the financial side, PwC Spain has advised the deal.

Finally, on the due diligence side, the transaction has been advised by PwC Spain.

Legal advisors

Applus+ acquires 80% of Applus+ Idiada

Applus+, the leader in technical inspections and ITV in Spain, has paid 428 million to the Generalitat de Catalunya to keep Idiada, the company that controls the automobile testing circuit in Santa Oliva (Tarragona).

The company, which has managed Idiada since 1999, was the only group to submit a bid to keep 80% of the company. This occurred after the withdrawal of the German group TÜV Rheinland from the process.

Following this operation, it will also contribute an additional 400 million during the term of the contract (25 years). The amount contributed by the dividends generated by the company, the concession fee and the additional payment of 2% of the operating profit.

This transaction is considered the largest in terms of equity in the history of the Generalitat.

Garrigues has advised Applus+ with a team formed by José Ramón Morales (partner), Xavier Ruiz de Loizaga Solé (partner), Guillermo Sánchez de Miquel (senior associate), Irene Tarré Cruz (senior associate), Aleix Cruanyes (lawyer) and Jordi Maeso (associate).

Source: Iberian Lawyer - Spain