Davis Polk is advising Banco Bilbao Vizcaya Argentaria, S.A. in connection with its $500 million sale of its Puerto Rican operations to Oriental Financial Group Inc. The transaction is subject to customary regulatory approvals and targeted to close before the end of 2012.
BBVA is a highly diversified international financial group, with strengths in the traditional banking businesses of retail banking, asset management, private banking and wholesale banking. Oriental Financial Group is a diversified financial holding company that operates under U.S. and Puerto Rico banking laws and regulations.
The Davis Polk corporate team includes partner William L. Taylor and associates Alexander N. Macleod and Samuel Burley. Partner Margaret E. Tahyar and associate E. Ashley Harris are providing financial institutions advice. Partner Jean M. McLoughlin and associate Chaoyuan Charles Shi are providing employee benefits advice. Partner Kathleen L. Ferrell and associate Michelle Messer are providing tax advice. All members of the Davis Polk team are based in the New York office.
