PAGBAM in merger of Santander and Open Bank Argentina
Pérez Alati Grondona Benites & Arntsen has advised on the merger by absorption of Banco Santander Argentina, as the absorbing company, and Open Bank Argentina as the absorbed company.
The Merger involved the intervention of the Central Bank of Argentina (BCRA), as the merging companies are financial institutions, and of the National Securities Commission, as Banco Santander is an issuer of negotiable obligations. The Board of Directors of the BCRA authorised the Merger on 29 February 2024 and the National Securities Commission gave its administrative approval to the Merger on 12 July 2024.
Leonidas Castillo Carrillo, Federico Giovini, Lourdes Penida and Paula De la Serna acted as in-house counsel to Banco Santander and Open Bank.
PAGBAM’s team included partner Diego Serrano Redonnet (pictured) and associates Nahuel Perez de Villarreal and Mora Mangiaterra Pizarro, with the assistance of partner Facundo Fernández Santos and associate María Florencia González Klebs on tax matters, and partner Vanina Veiga and associate Florencia María Piazzzzardi on corporate matters.
