Shearman & Sterling acted as transaction and regulatory counsel to Banco Bradesco in its acquisition of BAC Florida Bank, valued at $500 million, which closed on October 30.

Banco Bradesco S.A. (BVMF: BBDC4; NYSE: BBD) is one of the largest banking and financial services companies in Brazil. BAC Florida Bank is headquartered in Coral Gables, Miami, U.S. and has 45 years of banking expertise.  Banco Bradesco and its parent companies received approval from the Board of Governors of the Federal Reserve System to acquire BAC Florida Bank and become bank holding companies on October 7, 2020.

The Team