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Latin American partner completes major financial services deal
28th Jan 2010

Mergers Alliances' partner BroadSpan, which specialises in Latin Amercia and the Caribbean, has completed the acquisition of Florida based Mellon United National Bank on behalf of its client Banco Sabadell. The new venture will become one of Florida's largest banking operators, and will operate under the name of Sabadell United Bank.

Mergers Alliances' partner BroadSpan, which specialises in Latin Amercia and the Caribbean, has completed the acquisition of Florida based Mellon United National Bank on behalf of its client Banco Sabadell. The new venture will become one of Florida's largest banking operators, and will operate under the name of Sabadell United Bank.

Banco Sabadell (IBEX:SAB) is Spain´s fourth-largest bank, with more than 125 years of experience in corporate and personal banking. It has over 1,200 branches throughout Spain and a presence in another 19 countries through branches, representative offices, subsidiaries and affiliates, notably in China, India, the Middle East, Africa and Latin America.

With this transaction, Banco Sabadell has acquired a total of 1.675 million dollars in deposits and 875 million dollars in loans. The group now manages a total of 6.4 billion dollars of business (investment and funds) in Florida and now has over 20 branches in Florida alone.

The acquisition of Mellon United National Bank, Banco Sabadell´s third acquisition in the area, strengthens the strategy that commenced with the acquisition of TransAtlantic Bank in 2007 and continued with that of BBVA´s private banking business in Miami in April 2008.


For more information, please contact Stas Michael on +44 (0)207 881 2990 or
email stasmichael@mergers-alliance.com.