Slaughter and May, in conjunction with Uría Menéndez, is advising Banco Santander, S.A. on its acquisition of a 50% stake in Santander Asset Management from Warburg Pincus and General Atlantic

Slaughter and May and Uría Menéndez, working as an integrated team, are advising Banco Santander, S.A. on an agreement to acquire the remaining 50% stake in Santander Asset Management (SAM) currently held by global private equity firms Warburg Pincus and General Atlantic. As a result of the agreement, which was announced on 16 November 2016 and is conditional upon regulatory approvals, the Santander Group will acquire 100% ownership of SAM.

SAM currently has EUR 170 billion assets under management, mainly in relation to European and Latin American markets, and the Santander Group aims to strengthen its asset management unit by reinforcing the range of products it offers.