Slaughter and May is advising Banco Santander, S.A., in connection with the proposed merger of Alawwal bank with The Saudi British Bank

Slaughter and May is advising Banco Santander, S.A. (“Santander”), a significant shareholder in Alawwal bank, in connection with the proposed merger of Alawwal bank with The Saudi British Bank (the “Merger”). The Merger will create Saudi Arabia’s third largest bank with a stock market capitalisation of approximately SAR 64.4 billion (USD 17.2 billion).
 
The Merger is conditional on, among other things, shareholder approval and certain regulatory approvals. The Merger is expected to complete in the first half of 2019.

Slaughter and May is supporting Santander’s in-house team led by David Mora (corporate development), Pilar Salinas Rincón (legal counsel) and Ana Nuevo (legal counsel).