Santander buys back 50% stake in asset management business

17/11/2016

Private acquisition

Status:

Announced

Date:

17/11/2016

Overview:

Banco Santander has bought back a 50% stake in its asset management business from General Atlantic and Warburg Pincus.
The asset manager is valued at €170 billion and the deal gives Santander full control of the business.
Santander had sold the stake to the private equity houses in 2013.
The bank had looked to merge its asset management business with UniCredit in 2015.

Sam Duke - Editor

Jurisdictions:

Spain
United Kingdom

Deal type:

Private acquisition

Practice area:

M&A

Industry sectors:

Banking
Investment management

Firms:

Cleary Gottlieb Steen & Hamilton

Party: Warburg Pincus (Seller)

Party: General Atlantic (Seller)

Lawyer: Carlo de Vito Piscicelli

Slaughter and May

Party: Banco Santander (Acquirer)

Lawyer: Michael Corbett

Uría Menéndez

Party: Banco Santander (Acquirer)

Lawyer: Antonio Herrera

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