Chilean bank buys in Miami
Joe Rowley
Chilean firm Carey and Ávila, Rodríguez, Hernández, Mena & Ferri in the US are advising Banco de Crédito e Inversiones (BCI) in the acquisition of Miami-based City National Bank of Florida.
City National Bank of Florida, which is part of Spain’s Grupo Bankia, is turning to the New York office of Sullivan & Cromwell LLP.
The pair signed the deal on 24 May with closing expected to take place in the first quarter of next year.
BCI will pay some US$882.8 million for the US bank, which it will finance through the issuance of new shares or bonds.
Counsel to Banco de Crédito e Inversiones
In-house counsel
Pedro Balla and Fernando Carmash
Carey
Partner Francisco Ugarte and associate Eugenio González in Santiago
Ávila, Rodríguez, Hernández, Mena & Ferri
Partners Alcides Avila and Asnardo Garro, and associates Javier Álvarez in Miami
Counsel to Grupo Bankia
Sullivan & Cromwell LLP
Partners Sergio Galvis, Mitchell Eitel, Rodgin Cohen, Marc Trevino and Ronald Creamer, counsel Matthew Brennan, and associates Werner Ahlers, Jared Roscoe, Maria Charon, Allison
MacDonald, Daniel Whitney, King Kai Chu and Stephen Miller in New York, and counsel Spencer Simon in Palo Alto
