Santander Consumer Bank AG agreed to acquire MCE Bank GmbH from Mitsubishi Corporation (TSE:8058) on November 10, 2022. The transaction is subject to the approval of the Federal Financial Supervisory Authority (BaFin) and the Federal Cartel Office. The earliest completion of the acquisition is expected by the end of March 2023.

Richard Reimer, Tim Oliver Brandi, Jan de Snaijer and Kerstin Neighbor of Hogan Lovells advised the Mitsubishi Corporation. Gunnar Schuster, Alexander Glos and Patrick Cichy of Freshfields advised MCE Bank on the transaction. Alexander Behrens, Matthias Horn, Wolfgang Melzer, Daniela Schmitt, Sebastian Schulz, Marie-Luise von Buchwaldt, Andre Wandt, Heike Weber and Michael Weiß of Allen & Overy LLP acted as legal advisor to Santander Consumer Bank AG.