Santander closes US$3.1 billion Brazilian takeover

Banco Santander has turned to the New York office of Davis Polk & Wardwell LLP, the Madrid and São Paulo offices of Uría Menéndez and Brazil’s Pinheiro Neto Advogados to close a US$3.1 billion acquisition of shares in its Brazilian subsidiary, bringing its ownership stake up to almost 90 per cent as part of a strategy to turn around the Brazilian bank’s flagging fortunes.

Unlock unlimited access to all Latin Lawyer content