Banco Santander (Brasil) spinoff and Nasdaq listing of Getnet
We advised Santander Brasil on the transaction, including the Nasdaq listing of Getnet ADSs
Davis Polk advised Banco Santander (Brasil) S.A. in connection with its spinoff and Nasdaq listing of Getnet Adquirência e Serviços para Meios de Pagamento S.A. The spinoff consisted of the distribution of all of the units, common shares and preferred shares of Getnet, including Getnet units represented by Getnet American depositary shares, to the holders of Santander Brasil units, common shares and preferred shares, including Santander Brasil units represented by Santander Brasil American depositary shares. The Getnet common shares, preferred shares and units are listed on the Brazilian Stock Exchange and the Getnet ADSs are listed on the Nasdaq Global Select Market.
Getnet is a technology company offering payment solutions to a range of merchants, from large businesses to small entrepreneurs, and its portfolio of products includes physical solutions, such as SuperGet and POS devices, as well as digital solutions and services. Following the spinoff, Getnet will operate under the Getnet brand as the Brazilian leg and regional acquirer of the Santander Group’s global merchant acquiring franchise, PagoNxt merchant solutions. PagoNxt is a strategic initiative of the Santander Group that seeks to integrate various payment solutions for businesses and consumers using the latest technology.
The Davis Polk capital markets team included partner Nicholas A. Kronfeld and associates Lourenço Lopes-Sabino and Felipe Saraiva Carneiro. The tax team included partner Patrick E. Sigmon, and associate Lex L. Varga. Counsel Daniel E. Newman and associate Russell Quarles provided regulatory advice. Counsel Charles Shi provided executive compensation advice. Counsel Sarah E. Kim and associate Sijia Cai provided 1940 Act advice. Members of the Davis Polk team are based in the New York and São Paulo offices.