Shearman & Sterling is representing Mizuho Corporate Bank, Ltd. in connection with its definitive agreement with WestLB AG to acquire its Brazilian corporate banking subsidiary, Banco WestLB do Brasil. The terms of the transaction were not disclosed.
Mizuho Corporate Bank, Ltd. is the corporate banking subsidiary of Mizuho Financial Group, Inc., one of Japan’s largest financial groups. Banco WestLB do Brasil S.A., headquartered in São Paulo, is a medium-size bank established in 1911 with total assets of approximately USD1.5 billion (as of December 31, 2011) and 66 full-time employees. It focuses mainly on wholesale banking.
The Shearman & Sterling team included Tokyo-based partner Kenneth Lebrun, counsel Brian Wheeler, and associates Joe M. Sasanuma, Ayako Adachi and Kenji Strait (all Tokyo-Mergers & Acquisitions). Other Shearman & Sterling lawyers involved in the transaction are partnersHans Diekmann (Düsseldorf-Capital Markets), Larry Crouch (Palo Alto-Tax), Robert Ellison (São Paulo-Capital Markets); counsel Eileen M. O’Pray(Palo Alto-Tax) and Gregg Rozansky (New York-Financial Institutions Advisory & Financial Regulatory); and associates Pedro Gonzalez (New York-Capital Markets), Ivana Martins (São Paulo-Capital Markets) and Jan Erik Schapmann (Düsseldorf-Mergers & Acquisitions).
