trending Market Intelligence /marketintelligence/en/news-insights/trending/pxa3xrkuppm9ozx3syxbhw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Venezuela-based Mercantil Servicios completes spin-off of Mercantil Bank Holding

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Venezuela-based Mercantil Servicios completes spin-off of Mercantil Bank Holding

Venezuela-based Mercantil Servicios Financieros CA on Aug. 10 completed the spin-off of Coral Gables, Fla.-based Mercantil Bank Holding Corp.

As part of the spin-off, 60,880,929 class A common shares and 43,880,032 class B common shares of Mercantil Bank Holding were distributed to holders of Mercantil Servicios' class A and class B common stock, respectively. This represents 80.1% of Mercantil Servicios' interest in each class of the U.S. company's common stock.

As a result of the distribution, Mercantil Bank Holding has become an independent, publicly traded company on the Nasdaq Stock Market under the symbols MBNAA for the class A common stock and MBNAB for the class B common stock.

Raymond James & Associates acted as financial adviser to Mercantil Bank Holding in connection with the spinoff.