Banco Bradesco S.A.’s Acquisition of BAC Florida Bank

Shearman & Sterling, Avila Rodríguez Hernández Mena & Ferri and Hughes Hubbard & Reed

Banco Bradesco S.A entered into a share purchase agreement to acquire BAC Florida Bank for cash.

For Bradesco, the Transaction has a strategic importance, as it will expand the offering of investments in the U.S. to Bradesco’s high net worth and affluent clients, as well as other banking services such as checking account, credit card and real estate financing. Bradesco will also have the opportunity to expand business related to corporate and institutional clients.

BAC Florida is well-known for its proven track record of providing diversified banking products to foreign nationals. For approximately 45 years, BAC Florida has demonstrated a deep understanding of the Latin American Region and an ability to deliver solutions to both its international and domestic client base.

The closing of the Transaction is subject to regulatory approvals and the satisfaction of certain customary closing conditions.

Shearman & Sterling advised Banco Bradesco S.A. with Richard Fischetti (Picture), Scott Petepiece, Reena Sahni, Russell Sacks, Laurence Crouch, Doreen Lilienfeld, Jordan Altman, Jonathan Kellner, Jennifer D. Morton, Timothy Byrne, Thomas Majewski, Andrea Campos, Enrique Dancausa, Grace Song, Eli Kozminsky, Taylor Pugliese, Matthew Behrens, Jingjing Liang, Marie-Alexis Valente Justin Reda, Diana Balassiano and Ryan Bray.

Avila Rodríguez Hernández Mena & Ferri advised BAC Florida Bank with Alcides Avila and Javier Alvarez.

Hughes Hubbard & Reed advised Grupo Pellas with a team including Ruben Diaz, Federico Goudie and Federico Cuadra Del Carmen.

Involved fees earner: Javier Alvarez – Avila, Rodri?guez, Herna?ndez, Mena & Ferri; Alcides Avila – Avila, Rodri?guez, Herna?ndez, Mena & Ferri; Federico Cuadra Del Carmen – Hughes Hubbard & Reed; Ruben Diaz – Hughes Hubbard & Reed; Federico Goudie – Hughes Hubbard & Reed; Reena Agrawal Sahni – Shearman & Sterling; Jordan Altman – Shearman & Sterling; Matthew Behrens – Shearman & Sterling; Ryan Bray – Shearman & Sterling; Timothy Byrne – Shearman & Sterling; Andrea Campos – Shearman & Sterling; Laurence Crouch – Shearman & Sterling; Enrique Dancausa – Shearman & Sterling; Richard Fischetti – Shearman & Sterling; Jonathan Kellner – Shearman & Sterling; Eli Kozminsky – Shearman & Sterling; Jingjing Liang – Shearman & Sterling; Doreen Lilienfeld – Shearman & Sterling; Thomas Majewski – Shearman & Sterling; Jennifer D. Morton – Shearman & Sterling; Scott Petepiece – Shearman & Sterling; Justin Reda – Shearman & Sterling; Russell Sacks – Shearman & Sterling; Marie-Alexis Valente – Shearman & Sterling;

Law Firms: Avila, Rodri?guez, Herna?ndez, Mena & Ferri; Hughes Hubbard & Reed; Shearman & Sterling;

Clients: BAC Florida Bank; Banco Bradesco BBI S.A.;

Author: Ambrogio Visconti