Fernando Alonso, David Yates, Uriel Mendieta Highlighted in Daily Business Review for Banco Sabadell Deal

Duo Worked Over Holiday Weekend In Bank Acquisition

Daily Business Review

Fernando Alonso, David Yates and Uriel Mendieta, working with Anna Oestereicher of Banco Sabadell, helped arrange the bank’s estimated $12 million acquisition of Lloyds TSB Bank Plc’s Miami private banking business Nov. 1. According to Alonso, drafting the documents was challenging because the original transaction was structured according to British law. Alonso and his team “transformed the document into a purchase of assets and assumption of liabilities along the lines customary in New York law.” Of the $1.2 billion in managed assets initially, Alonso said about $900 million migrated to Sabadell. In this type of acquisition, assets typically transfer over a series of closings, but Alonso and the team completed it in just one.