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Allen & Overy advises Banco Santander on its acquisition of technological assets of Wirecard

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Horn Matthias
Dr Matthias Horn

Partner

Frankfurt am Main

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Krause Hartmut
Dr Hartmut Krause

Partner

Frankfurt am Main

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Harald Klett
Harald Klett

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Frankfurt am Main

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18 November 2020

Allen & Overy has advised Banco Santander, one of the largest banks in the world, on the acquisition of highly specialised technological assets of the European merchant payment services and processing business (Merchant Payments; Acquiring & Issuing) of Wirecard group.

The transaction is subject to regulatory approvals and other conditions customary for these types of transactions.

With this acquisition, Santander will accelerate Getnet’s expansion in Europe, enhancing capabilities in e-commerce and multinational merchant servicing as well as other payment services.

The A&O team was co-led by partners Dr Matthias Horn and Dr Hartmut Krause (both Corporate/M&A) and comprised partners Dr Michael Ehret (Tax), Dr Hans-Peter Löw (Employment and Benefits), Dr Alexander Behrens (Financial Services Regulation, all Frankfurt), Dr Börries Ahrens (Antitrust and Competition, Hamburg), Dr Ulrich Baumgartner (Data Protection, München) and Of Counsel Dr Frank Herring (Financial Services Regulation, Frankfurt). Furthermore, advise was provided by senior associate Dr Sebastian Schulz (Employment and Benefits, Frankfurt). In addition, the team had significant support from associates Christin Schlorf (Hamburg) and Dr Matthias Taggeselle (Frankfurt, both Corporate/M&A), as well as associate Anna Kräling (IP/IT, Düsseldorf). Furthermore, it comprised associates Kai Schadtle and Lukas Wagner (both Financial Services Regulation, Frankfurt), Dr. Manuel Köchel (Tax, Frankfurt), Fabian Kolf and Sören Burdinski (both Antirust and Competition, Hamburg) and transaction support officers Nadine Gommel and Laura Thiel (both Corporate, Frankfurt). The A&O team included further lawyers from Germany, as well as lawyers from Dubai and Madrid. 

Santander’s legal inhouse team was led by Juan Charro, Valle Alvarez (both M&A) and Anna Werner (General Counsel Getnet); in Germany, Timo Spitzer (Head of Legal Germany) was involved.