BarentsKrans advised Bankinter, S.A. on its agreement to acquire 100% of Tulp Hypotheken Holding B.V. (Tulp Group), a Dutch specialist mortgage finance platform. The transaction involved multiple parties and advisers, including Bankinter as purchaser and three selling shareholders, and had a clear international dimension with stakeholders across several jurisdictions, including Spain, the Netherlands, Belgium and Germany.

The matter was complex due to the intensive coordination required between the purchaser, sellers, management, advisers and other stakeholders, as well as the highly regulated nature of the Dutch mortgage and financial services sector. The transaction is subject to regulatory conditions, including notifications and approvals involving the Dutch Authority for the Financial Markets.

In addition, the transaction involved sophisticated commercial and financial structuring, including arrangements relating to a warranty and indemnity insurance policy, interim period covenants, net profit allocation and an earn-out mechanism.

The acquisition is strategically important for Bankinter as it marks its entry into the Dutch market and further expands its international footprint. Tulp Group operates a specialist multi-funder, multi-product mortgage platform covering origination, distribution, servicing and mortgage portfolio management, giving Bankinter exposure to one of Europe’s most developed mortgage markets and strengthening its position in the European mortgage sector.