Banco Santander’s Sale of TotalBank to Banco de Crédito e Inversiones

On December 1, 2017, Banco Popular Español S.A., a wholly owned subsidiary of Banco Santander S.A. (“Banco Santander”), announced that it agreed to sell TotalBank to Banco de Crédito e Inversiones for a consideration of approximately $528 million. Cravath is representing Banco Santander in connection with the transaction.

The Cravath team is led by partner Richard Hall and includes associate Maya A. Rosenthal‑Larrea on M&A matters; partner Christopher K. Fargo and associate Richard Bohm on tax matters; and partner Jonathan J. Katz and associate Daniel P. Herrmann on executive compensation and benefits matters. Tianyang Lin also worked on M&A matters.