Popular Completes Acquisition of Wells Fargo’s Auto Finance Business in Puerto Rico

August 1, 2018

S&C represents Popular, Inc., in connection with its subsidiary Banco Popular de Puerto Rico's acquisition and assumption from Reliable Financial Services, Inc. and Reliable Finance Holding Company, subsidiaries of Wells Fargo & Company, certain assets and liabilities related to Wells Fargo's auto finance business in Puerto Rico, for a price of approximately $1.6 billion. The S&C transaction team was led by Donald Toumey, along with Eric Diamond and Kristin Rulison. Rodgin Cohen advised on certain regulatory matters; Robert Downes advised on certain SEC reporting matters; and Rebecca Coccaro and Joshua Green advised on executive compensation and benefits matters.