Shearman & Sterling represented the syndicate of banks led by UBS Securities LLC as sole financial advisor and led by global coordinators Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Santander Investment Securities Inc. and UBS Securities LLC, underwriting the US$4.1 billion initial public offering of American depositary shares represented by shares of Series B common stock of Grupo Financiero Santander México, S.A.B. de C.V., the Mexican subsidiary of Spain’s Banco Santander S.A. Grupo Financiero Santander México, S.A.B. de C.V. dual listed its shares with the New York Stock Exchange and the Mexican Stock Exchange.
The offering was the largest IPO in Mexican history and the largest IPO in Latin America since the 2010 equity offering by Petrobras, the state-owned Brazilian oil company, in which Shearman & Sterling also served as underwriters’ counsel.
The Shearman & Sterling team included partners Stuart K. Fleischmann(New York-Capital Markets), Don Lonczak(Washington, DC-Tax), andRussell D. Sacks (New York-Financial Institutions Advisory & Financial Regulatory); associates Kevin Younai (New York-Capital Markets), Michael J. Blankenship (New York-Financial Institutions Advisory & Financial Regulatory), Jeffrey B. Tate (Washington, DC-Tax), Richard Bass (São Paulo-Capital Markets), and Rita de la Guardia (New York-Capital Markets); and international associates Nydia Guevara (New York-Capital Markets) and Carla Russo (New York-Capital Markets).
