April 21, 2021 – Hughes Hubbard has been shortlisted as a finalist in International Financial Law Review’s (IFLR) Americas Awards 2021 for advising on the sale of BAC Florida Bank to Brazil’s Banco Bradesco.

The firm was nominated for “Deal of the Year” in M&A for serving as lead legal advisor to the shareholders of BAC Florida Bank in Banco Bradesco’s first-ever acquisition in the U.S. market.

The IFLR Americas Awards celebrates the most legally innovative cross-border transactions that closed in 2020, as well as the firms and lawyers behind them. IFLR will announce the winners online on May 20.

Latham & Watkins, Skadden Arps Slate Meagher & Flom, White & Case and Paul Weiss Rifkind Wharton & Garrison are among the other firms nominated for “Deal of the Year” in M&A. IFLR’s shortlist is based on preliminary research, including direct written nominations and conversations with law firm partners, in-house teams and clients.

An HHR Latin America team represented shareholders of the Coral Gables-based bank in negotiating and executing a stock purchase agreement for a minimum price of $500 million. The deal was announced in May 2019 and closed in October 2020. BAC now operates as a unit of Bradesco’s subsidiary Lecce Holdings SA. The Brazilian lender plans to expand investment offerings in the U.S. to BAC’s affluent clients, as well as other banking services such as checking accounts, credit cards and real estate financing.

Ruben Diaz led the HHR team, which also included Freddie Goudie and Francesca Ferraresi.