Davis Polk is advising Grupo Financiero Santander, S.A.B. de C.V. and Banco Santander, S.A. in connection with its acquisition of GE Capital’s consumer mortgage business in Mexico, encompassing all of its operations, including its $2 billion consumer mortgage portfolio. The transaction, which is expected to close in the first half of 2011, is subject to regulatory approvals. The financial terms of the transaction were not disclosed.
Headquartered in Mexico City, Mexico, Grupo Financiero Santander is a leading financial institution in Mexico.
The Davis Polk corporate team includes partner Marc O. Williams, associates Michael E. Healy, Nina R. Sassoon (not yet admitted) and former associate Maximino Montero (admitted only in Spain). The tax team includes partner Michael Mollerus and associate Arie Rubenstein. Partner Barbara Nims and associate Andrew Blau are providing benefits advice. Partner Frank J. Azzopardi and associate Matthew J. Bacal are providing intellectual property advice. Alexander G. Nelson was the legal assistant for the transaction.
