Latham & Watkins Advises EVERTEC in Extensions of Key Agreements With Popular and Sale of Certain Assets

EVERTEC, Inc. (NYSE: EVTC) has announced an agreement with Popular, Inc. (NASDAQ: BPOP) (Popular) to sell to Popular certain technology services assets for a purchase price of approximately US$197 million. The parties also agreed, conditioned on the closing of the asset sale, to modify and extend the main commercial agreements between the parties.   

Latham & Watkins LLP represents EVERTEC in the transaction with a corporate deal team led by New York partners Alex Kelly, Jenny Cieplak, and Peter Harwich, with associates Karen Song, Saba Yasmin and John McMillan. Advice was also provided on tax matters by New York partner Jocelyn Noll, with associate Sam Yang; on banking regulatory matters by New York partner Alan Avery and New York counsel Pia Naib; on benefits and compensation matters by New York partner Austin Ozawa; and on antitrust matters by Washington, D.C. partner Alan Devlin and Washington, D.C. counsel Peter Todaro, with associate Chris Brown.