BDO Valuations Services team has provided valuation services to Banco Santander on the reorganization of Allianz-Popular insurance and asset management businesses.
Allianz-Popular was a joint venture formed in 2011 by Banco Popular Español and Allianz to strengthen their strategic alliance and integrate all their life insurance, pension fund management and asset management activities into a single platform, and to formalize distribution agreements for these products among Banco Popular's customers.
The purchase of the 60% stake in Allianz-Popular by Banco Santander sought to terminate the relationship between Allianz and Banco Popular and a subsequent reorganization of the insurance and asset management businesses between other external service providers and/or internal units of Banco Santander.
BDO has assisted Banco Santander in the valuation of the businesses in the context of the acquisition of Allianz’s stake and the subsequent reorganization transactions.