CaixaBank Payments Establecimiento Financiero de Credito de Entidades de Pago S.A. signed term-sheet to acquire issuing business from Banco BPI, S.A. (ENXTLS:BPI) for €53 million on December 21, 2017. CaixaBank Payments will appoint Banco BPI as its exclusive agent for distributing the products affected by the business acquired. In a related transaction, Comercia Global Payments, E.P., S.L. signed term-sheet to acquire point-of-sale business from Banco BPI for €60 million. The transaction won't result in any transfer of personnel. The transaction is subject to approval of the Board of Directors of Banco BPI and CaixaBank S.A., parent of CaixaBank Payments, regulatory approval and antitrust approval. The transaction was approved by the Board of Directors of Banco BPI and CaixaBank. A Board of Directors’ committee composed of non-executive members of the Board of Directors was formed by Banco BPI to issue an opinion on the transaction. The transactions will result in a €99 million pretax gain for Banco BPI. KPMG acted as financial advisor for Banco BPI while Campos Ferreira, Sá Carneiro & Associados acted as legal advisor. Morgan Stanley (España), S.A. acted as financial advisor for CaixaBank Payments Establecimiento Financiero de Credito de Entidades de Pago S.A. Maria João Ricou and Manuel Requicha Ferreira of Cuatrecasas Gonçalves Pereira acted as a legal advisor to CaixaBank Payments Establecimiento Financiero de Credito de Entidades de Pago S.A. CaixaBank Payments Establecimiento Financiero de Credito de Entidades de Pago S.A. completed the acquisition of Issuing Business of Banco BPI, S.A from Banco BPI, S.A. (ENXTLS:BPI) for €53 million on January 2, 2018