Slaughters and Cleary advise as Santander buys back asset management unit
Magic circle firm acts alongside Spanish best friend firm for Banco Santander
November 17, 2016 at 12:49 PM
2 minute read
Slaughter and May, Cleary Gottlieb Steen & Hamilton and Uria Menendez have won roles as Banco Santander buys back a 50% stake in its asset management unit from US buyout houses Warburg Pincus and General Atlantic.
The deal will give Santander full control of its asset management division, which has €170bn (£145bn) of assets under management and generates €1.1bn (£938m) of fee income.
Cleary is advising Warburg Pincus and General Atlantic with a team led by London finance partner Simon Jay, tax partner Richard Sultman and finance partner Carlo de Vito Piscicelli, who splits his time between London and Milan.
Slaughters and its Spanish best friend firm Uria are acting for Banco Santander. Slaughters' team is being led by City corporate partner Michael Corbett, while the Uria team includes Barcelona managing partner and M&A partner Antonio Herrera, and Madrid corporate partner Stephen Hess.
The pair previously won a mandate to advise Santander in April last year on a deal that saw it attempt to combine its asset management business with UniCredit's Pioneer Investments. That deal ultimately collapsed in July this year, shortly after Jean Pierre Mustier took over as chief executive of UniCredit.
UniCredit Pioneer Investments had instructed Linklaters. Davis Polk & Wardwell also acted alongside Slaughters on the deal.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Big Law Leaders, Dealmakers Optimistic about M&A Deal Flow Under Trump, With Caveats
5 minute read
The Law Firms Generating 8-Figure Fees on the Year's Big Ticket UK Deals
3 minute read
'Significant' Competition Concerns Over £762M GXO Logistics-Wincanton Merger
Trending Stories
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
