IFLR1000

Bank of Communications acquires 80% $173 million stake in Banco BBM

29/5/2015
Private acquisition
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$ 173 million

29/5/2015

Overview:

  • Bank of Communications has bought an 80% stake in Brazilian bank Banco BBM for $173 million.
  • The deal represents the Chinese bank's first overseas acquisition.
  • Bank of Communications is the PRC's fifth largest bank with assets valued at $1.07 trillion and is headquartered in Shanghai.
  • Shearman & Sterling advised Bank of Communications.
  • Barbosa Müssnich & Aragão acted for Banco BBM.

Jurisdictions:

Brazil
China

Deal type:

Private acquisition

Practice area:

M&A

Industry sector:

Banking

Firms:
BMA - Barbosa Müssnich Aragão

Party: Banco BBM (Target)

Shearman & Sterling

Party: Bank of Communications Co Ltd (Acquirer)

Lawyer: Xiaogang (Sean) Wang

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