Legal DealFolio - Warburg Pincus and General Atlantic investment in Santander Asset Management

Slaughter and May is advising Banco Santander, S.A. on an agreement with leading global private equity firms Warburg Pincus and General Atlantic to boost the global growth of its asset management unit, Santander Asset Management ("SAM"). The transaction values SAM at EUR 2,047 million and will generate a net capital gain for the Santander Group of EUR 700 million. Under the agreement, which was announced on 30 May 2013 and is conditional upon regulatory approvals, Warburg Pincus and General Atlantic will jointly acquire a 50% stake in a holding company which will integrate SAM's asset management companies in eleven different jurisdictions in Europe and Latin America. The transaction is expected to be completed by the end of the year. The agreement also provides that Banco Santander, S.A. will distribute SAM's products and services in the territories in which it has a commercial network; thereby benefitting from SAM's enhanced offering of products. Corporate and Commercial: Roland Turnill (partner), Michael Corbett (partner), Sarah Ullathorne (associate), Lucinda Ingram (associate), Anant Prakash (associate); Financial Regulation: Jan Putnis (partner), Nick Bonsall (associate), Michael Sholem (associate); Financing: Guy O'Keefe (partner), Oliver Wicker (associate), Alex Biles (associate), Alastair McVeigh (associate); IP/IT: Cathy Connolly (partner), Alice McDonald (associate); Tax: Steve Edge (partner), Dominic Robertson (associate), Venetia Jennings (associate); Pensions and Employment: Roland Doughty (partner), Katherine Flower (associate).

Deal Date:	30-05-2013	Practice Area:	Corporate and M&A
Deal Title:	Warburg Pincus and General Atlantic investment in Santander Asset Management	Industry:	Financial Services
Description:	Slaughter and May is advising Banco Santander, S.A. on an agreement with leading global private equity firms Warburg Pincus and General Atlantic to boost the global growth of its asset management unit, Santander Asset Management ("SAM"). The transaction values SAM at EUR 2,047 million and will generate a net capital gain for the Santander Group of EUR 700 million. Under the agreement, which was announced on 30 May 2013 and is conditional upon regulatory approvals, Warburg Pincus and General Atlantic will jointly acquire a 50% stake in a holding company which will integrate SAM's asset management companies in eleven different jurisdictions in Europe and Latin America. The transaction is expected to be completed by the end of the year. The agreement also provides that Banco Santander, S.A. will distribute SAM's products and services in the territories in which it has a commercial network; thereby benefitting from SAM's enhanced offering of products. Corporate and Commercial: Roland Turnill (partner), Michael Corbett (partner), Sarah Ullathorne (associate), Lucinda Ingram (associate), Anant Prakash (associate); Financial Regulation: Jan Putnis (partner), Nick Bonsall (associate), Michael Sholem (associate); Financing: Guy O'Keefe (partner), Oliver Wicker (associate), Alex Biles (associate), Alastair McVeigh (associate); IP/IT: Cathy Connolly (partner), Alice McDonald (associate); Tax: Steve Edge (partner), Dominic Robertson (associate), Venetia Jennings (associate); Pensions and Employment: Roland Doughty (partner), Katherine Flower (associate).
Financial Center:	London	Value:	1000.01-5000.00
Advised Party:	Vendor	Law Firm	Slaughter and May
Target Company Jurisdiction	United Kingdom	Acquiror Jurisdiction	United Kingdom
Classification:	Financial Buyer Acquisitions Minority Investment	Lawyer	Roland Turnill

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers