Four US Firms Advise on $500M Acquisition of Florida Bank by Brazil's Banco Bradesco
BAC Florida reported assets of $2.2 billion and shareholder equity of $206 million. Bradesco reported assets of $358 billion, according to the American Banker.
May 07, 2019 at 12:38 PM
1 minute read
Four U.S. firms are advising on a $500 million deal in which Brazil's Banco Bradesco has agreed to acquire Coral Gables-based BAC Florida Bank.
Shearman & Sterlingis acting as outside legal counsel to Bradesco. Sandler O'Neill & Partners is serving as financial adviser to BAC Florida and its controlling shareholders. Hughes Hubbard & Reed and Avila Rodriguez Hernandez Mena & Ferri are serving as legal adviser to BAC Florida shareholders and BAC Florida, respectively.
The transaction is still subject to the approval of regulatory authorities in Brazil and the U.S.
BAC Florida reported assets of $2.2 billion and shareholder equity of $206 million. Bradesco reported assets of $358 billion, according to the American Banker.
“We are pleased to have reached this agreement with Bradesco. We believe the transaction will continue to contribute to the success of our clients and the professional and personal development of BAC Florida team members,” Carlos Pellas, co-chairman of BAC Florida, said in a statement.
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