S&C Advises Rabobank Group in Sale of U.S. Subsidiary to Mechanics BankMarch 25, 2019
Rabobank Group, the second largest bank in the Netherlands, announced March 15 its definitive agreement to sell its 100-branch U.S. national bank subsidiary, Rabobank, N.A., to Mechanics Bank in a strategic business combination for a total consideration of approximately $2.1 billion and 9.9% of the outstanding shares of Mechanics Bank.
The S&C team includes financial services partners Donald Toumey and Stephen Salley, along with tax partner Ronald Creamer, executive compensation partner Heather Coleman and IP partner Mehdi Ansari.
Mechanics Bank will acquire Rabobank, N.A.'s retail, business banking, commercial real estate, mortgage, and wealth management businesses.