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Allen & Overy advises ICG and Konecta on the agreement with Comdata

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Hornedo Ignacio
Ignacio Hornedo

Partner

Madrid

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Nastasi Paolo
Paolo Nastasi

Partner

Milan

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Figueroa Patricia
Patricia Figueroa

Senior Associate

Madrid

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Andres Mochales
Andres Mochales

Senior Associate

Madrid

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Image of Jose Mollinedo
Jose Mollinedo

Associate

Madrid

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Savo Giorgio
Giorgio Savo

Associate

Milan

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Image of Cristina Canepone
Cristina Canepone

PR & Communication Manager

Milan

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08 April 2022

The agreement creates the sixth largest player in the attractive Customer Experience BPO market.

Allen & Overy has advised global alternative asset manager Intermediate Capital Group (ICG) and Konecta, the leading provider of Spanish-speaking Customer Experience (CX) BPO solutions, on an agreement with Italian company Comdata, a leading global service provider in Customer Management BPO, to join forces and create a world leader in the Customer Business Process Oursourcing sector.

José María Pacheco, founder and chairman of Konecta, and the management teams of Konecta and Comdata have partnered with ICG to execute this strategic combination. 

The agreement creates the sixth largest player in the attractive CX BPO market with close to EUR2 billion in revenues, EUR300 million in EBITDA, 130,000 employees and clients in Europe and America in a variety of end industries, such as finance and insurance, technology, telco, retail and e-commerce, utilities, industrial and healthcare.

The completion of the transaction is subject to the necessary regulatory approvals.

Partners Ignacio Hornedo and Paolo Nastasi led Allen & Overy’s cross-departmental and cross-jurisdictional team comprising the Madrid, Milan, London, Paris and Prague offices.

The A&O Spain team comprised senior associates Patricia Figueroa and Andrés Mochales and associate José Mollinedo for corporate/M&A aspects; partner Juan Hormaechea, senior associate Sara Sanz and associate Marina Jimenez for banking aspects; senior associate Leopoldo Reano for public law profiles; counsel Jaime Rodríguez and associate Anabel Blasco for antitrust matters; senior associate Ana Hernandez for employment-related matters; and partner Adolfo Zunzunegui, senior associate Rafael Gimenez-Reyna and associate Juan José Sanchez for tax aspects.

The A&O Italy team comprised associate Giorgio Savo, trainee Chiara Pinto and Chiara Basile Baldassarre for corporate/M&A aspects; counsel Emilio De Giorgi for antitrust profiles; counsel Luca Amicarelli and associate Stefania Casini for golden power aspects; partner Livio Bossotto, senior associate Claudio Chiarella and Chiara Magliulo for employment-related matters; partner Pietro Scarfone for the financing aspects; and partner Francesco Guelfi and associate Simona Simone for tax aspects.

Counsel Luc Lamblin (Paris), senior associate Ivana Halamova Dobiskova (Prague) and associate Alex Forzani (London) advised on regulatory matters. 

Further information on London team advising on the financing can be found here.