Shearman & Sterling advised IntercontinentalExchange (ICE) on its acquisition of a 12.4 percent stake in Brazilian clearing firm Cetip in a transaction valued at approximately $512 million. Advent International, which invested in Cetip prior to the company's initial public offering, was the main selling shareholder.

IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts.

The Shearman & Sterling team was led by partner David Connolly, associate Yan Liang and summer associate Andrew Shoals (all New York-Mergers & Acquisitions) and included partners Beau Buffier (New York-Antitrust/Competition), Matthew Readings (London/Brussels-Antitrust/Competition); Of Counsel Lois Moore (London-Mergers & Acquisitions), and associates Jeremy Kutner (London-Mergers & Acquisitions) and George Milton (London-Antitrust/Competition).