Perez Alati, Grondona, Benites & Arntsen and Uría Menéndez advised Banco Santander for the delisting in Argentina
Banco Santander’s board of directors has decided to request the voluntary delisting of Banco Santander shares (or the instruments that represent them) from Bolsas y Mercados Argentinos, B3 S.A. – Brasil, Bolsa, Balcão, Euronext Lisbon and Borsa Italiana.
Additionally, the board has agreed to request the voluntary delisting of Banco Santander shares listed under the stock symbol SAN in the Índice de Precios y Cotizaciones (IPC) of Bolsa Mexicana de Valores (BMV) and for these shares to be incorporated immediately into BMV, in the Sistema Internacional de Cotizaciones (SIC) available in Mexico for the shares of foreign companies.
These decisions have been taken as part of a process of rationalisation of the markets where Banco Santander has a secondary listing of its shares, and, because of the small volume of Banco Santander shares traded in these markets.
Of the 16,136,153,582 shares into which Banco Santander’s share capital is divided, as at 29 June 2018, an aggregate of 50,644,745 shares were registered on the Target Markets, representing 0.314% of the share capital. Furthermore, during 2017, the average daily trading volume on the Target Markets and on Bolsa Mexicana de Valores represented 0.119% of the average overall trading volume of Banco Santander’s shares.
In Argentina, Perez Alati, Grondona, Benites & Arntsen advised Banco Santander S.A. with a team including María Gabriela Grigioni (Picture) Tomás Rago, Bárbara Santori and Nahuel Pérez de Villarreal.
Uría Menéndez advised Banco Santander S.A. with Carlos Paredes, David López Pombo, Jorge Carmona and Felipe Carbonell García.
Involved fees earner: María Gabriela Grigioni – Pérez Alati, Grondona, Benites & Arntsen; Nahuel Perez de Villarreal – Pérez Alati, Grondona, Benites & Arntsen; Tomás Rago – Pérez Alati, Grondona, Benites & Arntsen; Bárbara Santori – Pérez Alati, Grondona, Benites & Arntsen; Felipe Carbonell – Uría Menéndez; Jorge Carmona Escudero – Uría Menéndez; David López Pombo – Uría Menéndez; Carlos Paredes Galego – Uría Menéndez;
Clients: Banco Santander Sa;