Regulatory Alerts2020-12-18 | DOF 5608182Added · Updated
Resolution Authorizing the Merger of Banco Santander Mexico, S.A. with Santander Vivienda, S.A. de C.V., SOFOM, E.R.
The Ministry of Finance and Public Credit authorizes the merger of Banco Santander Mexico, S.A., as the surviving entity, with Santander Vivienda, S.A. de C.V., SOFOM, E.R., as the extinguished entity, subject to shareholder approval by the last business day of 2020 and the registration of public deeds within specified deadlines. The resolution mandates the submission of certified copies of the merger agreements and public deeds to the Unit of Banking, Securities and Savings within forty business days, and requires the publication of the authorization and merger agreements in the Official Journal of the Federation at the expense of the surviving bank. Additionally, Grupo Financiero Santander Mexico must submit documents modifying its bylaws and Responsibility Agreement within twenty business days following the formalization of the merger acts.
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