Hunton & Williams LLP Represents Sabadell United Bank in Strategic Merger with JGB Bank
December, 2013 - Miami, Florida
Hunton & Williams LLP advised Sabadell in its agreement to acquire JGB Bank of Miami through its US domestic bank, Sabadell United Bank. Sabadell United Bank is a subsidiary of global banking institution Banco Sabadell and provides banking services throughout Florida.
“Transactions like this one demonstrate Sabadell’s commitment to Florida and growth in the Americas generally,” said partner Fernando C. Alonso. “We are proud to have been able to assist Sabadell in several acquisitions in the past, besides the present one, and are happy to be associated with the Bank’s success.”
Announced December 4, the acquisition reinforces Sabadell United Bank’s ability to serve clients in the South Florida market, as well as solidifies the Bank’s leading presence in the area. Upon closing, Sabadell United Bank will maintain 31 locations, over 40,000 clients, and $8 billion in business volume. JGB Bank currently has $530 million in assets. The transaction is expected to close in the first half of 2014, subject to the receipt of regulatory approvals and satisfaction of other customary closing conditions.
The Hunton & Williams team is led by corporate partner Fernando C. Alonso in Miami and includes associates Uriel A. Mendieta and Gabriel L. Valdes, also in Miami. The team took direction and worked closely throughout the transaction process with Anna Oestereicher, Sabadell’s general counsel in Miami. Keefe, Bruyette & Woods served as financial advisor to Sabadell. The law firm acting for JGB Bank was Proskauer Rose LLP from New York.
The firm has an established and diverse banking practice, consisting of lawyers and consultants with a long history of experience in the field. The team of lawyers regularly represents global financial institutions operating in the United States and elsewhere.
About Hunton & Williams LLP
Hunton & Williams LLP provides legal services to corporations, financial institutions, governments and individuals, as well as to a broad array of other entities. Since our establishment more than a century ago, Hunton & Williams has grown to more than 800 lawyers serving clients in 100 countries from 19 offices around the world. Our practice has a strong industry focus on energy, financial services and life sciences, and our experience extends to practice areas including bankruptcy and creditors’ rights, commercial litigation, corporate transactions and securities law, intellectual property, international and government relations, real estate, regulatory law, products liability, and privacy and cybersecurity. For additional information visit our website at www.hunton.com. Follow us on Twitter and LinkedIn.
