Slaughter and May and its Spanish best friend Uria & Menendez are sitting on opposite sides of the deal table on the surprise proposed £8.9bn acquisition of Abbey National by Banco Santander Central Hispano.
Slaughter has acted for Abbey for over 20 years while Uria has a similar longstanding relationship with Spain’s Banco Santander Central Hispano.
On this deal, Slaughter is acting with Spain’s Perez Llorca while for Banco Santander Central Hispano, Uria is working with Clifford Chance, which has built up a well-regarded corporate practice in the region over a number of years.
Banco Santander Central Hispano’s proposed takeover of Abbey is the second time in just over a year that Clifford Chance’s Spanish office has landed a large banking-based acquisition. In May last year the firm acted for Barclays Bank on it’s purchase of Spain’s Banco Zaragozano.