New Santander Links Emerge to First Brands Bankruptcy and Ex-CEO

The exposure of Banco Santander SA to the First Brands Group bankruptcy and its former chief executive officer, Patrick James, is bigger than previously known and includes a company in France and a loan facility in Mexico and Brazil.

Deva Capital, an investment firm ultimately controlled by Santander, is taking control of Novares Group SAS, a French car parts maker, according to an EU release last week. That follows the acquisition of Novares earlier this year by Global Technologies, an entity controlled by James, according to public filings.

There’s also a $55 million facility with First Brands ...