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News Feb 26, 2015

Shearman & Sterling Advises Mizuho Bank on $3.2 Billion Acquisition of RBS Loan Portfolio

Shearman & Sterling is advising Mizuho Bank, Ltd., a wholly-owned subsidiary of Mizuho Financial Group, Inc., on its acquisition of the $36.5 billion US and Canadian loan portfolio of Royal Bank of Scotland Group in a $3.2 billion transaction.

The Mizuho Financial Group is one of the largest financial institutions in the world, offering a broad range of services including banking, trust and securities, and other business related to financial services through its group companies. The group has approximately 55,000 staff working in approximately 880 offices in 38 countries and regions, and total assets of over US$2.2 trillion (as of March 2014).

The Shearman & Sterling team included partners Bjorn Bjerke (New York-Finance), Reena Agrawal Sahni (New York-Financial Institutions Advisory & Financial Regulatory), Russell Sacks (New York-Financial Institutions Advisory & Financial Regulatory), and Ken Laverriere (New York-Compensation, Governance & ERISA); of counsel Brad Sabel (New York-Financial Institutions Advisory & Financial Regulatory); counsel Tim Byrne (New York-Financial Institutions Advisory & Financial Regulatory) and Eileen O’Pray (Palo Alto-Tax); and associates Lara Aryani (New York-Mergers & Acquisitions), David Ling (New York-Compensation, Governance & ERISA), Elizabeth Martialay (New York-Real Estate) and Spencer Barrowes (New York-Finance).