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Cleary Gottlieb Steen & Hamilton and Shearman & Sterling have won roles advising in the merger of Brazil’s second and third largest banks, Banco Itaú and Unibanco.
Shearman partners Andrew Jánszky in Sao Paulo, Robert Ellison in Rome, and Bradley Sabel in New York will head the group representing Banco Itaú in the acquisition.
New York-based capital markets and M&A partners and Jorge Juantorena and Neil Whoriskey will lead the Cleary team advising Unibanco.
The resulting entity will be Brazil’s largest private bank.
The deal comes two years after Cleary counselled Bank of America in the sale of the Brazilian operations of its BankBoston subsidiary to Banco Itaú, which was represented by Shearman.
Tags: Corporate, Latin America and Caribbean, Brazil, Deals, Cleary Gottlieb Steen and Hamilton, Shearman and Sterling