JPMorgan Chase’s Acquisition of 40% Stake in C6 Bank

Skadden, Madrona and Machado Meyer advised C6 Bank on the deal. Spinelli, Pinheiro Neto and Davis Polk advised JPMorgan Chase.

C6 Bank has entered into a strategic agreement, whereby JPMorgan Chase will take a 40% ownership stake in the full-service Brazilian digital bank, subject to regulatory approvals. Financial terms of the transaction were not disclosed.

C6 Bank is one of the fastest growing full-service digital banks in Brazil with more than 1,600 employees and more than 7 million customers. Launched in 2019, the company offers a range of services, including checking and savings accounts, debit and credit cards, free toll tags, multi-currency global accounts, investments and lending products. C6 Bank serves individuals as well as small and midsize businesses and has accounts opened in all of Brazil’s 5,570 municipalities.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management.

The Skadden team advising C6 Bank included M&A partners Michael Civale (Picture; New York) and J. Mathias von Bernuth (Sao Paulo), and counsel Jonathan Lewis (Sao Paulo); Financial Institutions Regulation and Enforcement partner Brian Christiansen (Washington, D.C.); and Tax partner Steven Matays (New York).

In Brazil, Madrona Advogados advised C6 Bank with Ricardo Madrona and Marcelo Cosac.

Machado Meyer advised C6 Bank with Arthur Bardawil Penteado, Camilo T. Gerosa Gomes, Fernando Tonanni, Gustavo Secaf Rebello, Nei Schilling Zelmanovits, Maria Eugênia Novis, Rodrigo Seizo Takano, Ana Batia Glenk Ferreira, Antonio Augusto Colucci Miranda, Eduardo Boldrin Cámara, Igor Marcell Ramos Finzi, Solano Magno Deboni Neiva, Thomás Bonfim Teixeira Brotti, Victor Goulart Lazarini, Murilo Caldeira Germiniani and Pedro Augusto Oliveira Campos Cunha.

In Brazil Spinelli Advogados advised JPMorgan Chase & Co. with Sergio Spinelli Silva Junior, Hiram Bandeira Pagano Filho, Luís Arthur Terra Alves and  María Carolina Carvalho Morello.

Pinheiro Neto advised JPMorgan Chase & Co. with  Bruno Balduccini, José Luiz Homem de Mello, Leonardo Peres da Rocha e Silva, Pedro Paulo Barradas Barata, Maurício Froés Guidi, Ricardo Glaessner Binnie, Larissa Maria Galimberti Alonso,  Tiago Moreira Vieira Rocha, Renato Holsback Ramos, Tatiana Guazzelli, Thais Lorenzi Ambrosano,  José Rubens Battazza Iasbech, Augusto Bittencourt Vieira, Marcelo Junqueira de Mello, Ana Cristina do Val Fausto, Meilin Ng Canova, Daniella Losasso Goerck and Júlia Albuquerque Rodrigues Silva.

Davis Polk y Wardwell advised JPMorgan Chase & Co. in US.

Involved fees earner: Arthur Bardawil Penteado – Machado Meyer Advogados; Eduardo Boldrin Camara – Machado Meyer Advogados; Thomás Bonfim Teixeira Brotti – Machado Meyer Advogados; Murilo Caldeira Germiniani – Machado Meyer Advogados; Antonio Augusto Colucci Miranda – Machado Meyer Advogados; Solano Magno Deboni Neiva – Machado Meyer Advogados; Igor Finzi – Machado Meyer Advogados; Camilo Gerosa Gomes – Machado Meyer Advogados; Ana Bátia Glenk – Machado Meyer Advogados; Victor Goulart Lazarini – Machado Meyer Advogados; Maria Eugênia Novis de Oliveira – Machado Meyer Advogados; Pedro Augusto Oliveira – Machado Meyer Advogados; Nei Schilling Zelmanovits – Machado Meyer Advogados; Gustavo Secaf Rebello – Machado Meyer Advogados; Rodrigo Seizo Takano – Machado Meyer Advogados; Fernando Tonanni – Machado Meyer Advogados; Marcelo Cosac – Madrona Advogados; Ricardo Madrona – Madrona Advogados; Júlia Albuquerque Rodrigues Silva – Pinheiro Neto; Bruno Balduccini – Pinheiro Neto; Pedro Paulo Barradas Barata – Pinheiro Neto; José Rubens Battazza Iasbech – Pinheiro Neto; Augusto Bittencourt Vieira – Pinheiro Neto; Ana Cristina do Val Fausto – Pinheiro Neto; Maurício Fróes Guidi – Pinheiro Neto; Larissa Maria Galimberti Afonso – Pinheiro Neto; Ricardo Glaessner Binnie – Pinheiro Neto; Renato Holsback Ramos – Pinheiro Neto; José Luiz Homem de Mello – Pinheiro Neto; Marcelo Junqueira de Mello – Pinheiro Neto; Thais Lorenzi Ambrosano – Pinheiro Neto; Daniella Losasso Goerck – Pinheiro Neto; Tatiana Mello Guazzelli – Pinheiro Neto; Tiago Moreira Vieira Rocha – Pinheiro Neto; Meilin Ng Canova – Pinheiro Neto; Leonardo Peres da Rocha e Silva – Pinheiro Neto; Brian Christiansen – Skadden Arps Slate Meager & Flom; Michael Civale – Skadden Arps Slate Meager & Flom; Jonathan Lewis – Skadden Arps Slate Meager & Flom; Steven Matays – Skadden Arps Slate Meager & Flom; Mathias von Bernuth – Skadden Arps Slate Meager & Flom; Hiram Bandeira Pagano Filho – Spinelli Advogados; Maria Carolina Carvalho Morello – Spinelli Advogados; Sergio Spinelli Silva Jr – Spinelli Advogados; Luis Arthur Terra Alves – Spinelli Advogados;

Law Firms: Machado Meyer Advogados; Madrona Advogados; Pinheiro Neto; Skadden Arps Slate Meager & Flom; Spinelli Advogados;

Clients: C6 Bank; JP Morgan Chase & Co.;

Author: Martina Bellini