Feb 28Iberiabank Corp said it would buy
Sabadell United Bank NA from Spain's Banco de Sabadell SA
in a stock-and-cash deal valued at $1.03 billion, to
expand in the southern Florida market.
Iberiabank will buy Sabadell United for $803 million in cash
and about 2.6 million of its shares, valued at about $222
Lafayette, Louisiana-based Iberiabank plans to finance the
cash portion of the transaction, in part, through a public
common stock offering of about $500 million.
Goldman, Sachs and UBS Investment Bank served as financial
advisers to Iberiabank, and Simpson Thacher & Bartlett LLP
served as its legal adviser.
Keefe, Bruyette & Woods served as financial adviser to Banco
de Sabadell and Sabadell United Bank and Hunton & Williams LLP
as legal adviser.
(Reporting by Vishaka George in Bengaluru; Editing by Shounak