Kochański & Partners advises State Street Corporation on entering into a definitive agreement to acquire Brown Brothers Harriman & Co.’s Investor Services business
Kochański & Partners have advised State Street Corporation, with respect to the local jurisdiction, on entering into a definitive agreement to acquire Brown Brothers Harriman & Co.’s Investor Services business, including its custody, accounting, fund administration, global markets and technology services. Following the transaction, BBH will continue to independently own and operate its separate Private Banking and Investment Management businesses. The value of the transaction is $3.5 billion.
The transaction will be completed at the end of 2021, subject to regulatory approvals and customary closing conditions.
The consulting process provided by Kochański & Partners covered, in particular, regulatory and compliance aspects with regard to financial regulatory filings, as well as pre and post-completion transactional aspect advise specific to the local jurisdiction. Given the number of BBH’s employees in Poland our team also provided an extensive due diligence with regard to all employment matters.
Kochański & Partners project team was led by Rafał Rapala, Senior Partner, Head of Transactional Practices Group, and comprised of: Karol Połosak (Partner), Aneta Serowik (Senior Associate), Dominik Karkoszka (Associate), Michał Nowodworski (Associate), Magdalena Smolińska (Associate) and Adam Czarnota (Associate) from the Transactional Practices Group, and also Anna Gwiazda (Partner) and Anna Golenia (Senior Associate) from the Employment Law Practice.
State Street Corporation was also assisted by Goldman Sachs & Co. LLC (as financial advisor), Davis Polk & Wardwell LLP and Freshfields Bruckhaus Deringer LLP (as legal advisors). BBH was assisted by Lazard as financial advisor and Sullivan & Cromwell LLP as legal advisor.
For further information on the transaction please visit the State Street Corporation website.