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Latham Advises AllianceBernstein on Joint Venture Between Its Sanford C Bernstein Broker/Dealer Business and Societe Generale

November 22, 2022
Cross-border team advises on formation of leading global cash equities and research business in transformational deal.

Latham & Watkins has advised AllianceBernstein (NYSE: AB), a leading global investment management and research firm, on the formation of its joint venture with Societe Generale (EURONEXT: SCGLY), a leading European bank.

The joint venture will combine Bernstein Research Services’ premier global equity research and execution platform with Societe Generale’s European research and global execution capabilities to form a leading global cash equities and research business. The transaction is subject to customary closing conditions and is expected to complete before the end of 2023.

“We are delighted to have supported our longstanding client on this transformative deal,” said London financial regulatory partner and AllianceBernstein global relationship lead Rob Moulton. “Our role on the transaction highlights the strength of the firm’s integrated FinReg and transactional offering globally.”

Ed Barnett, Co-Chair of Latham’s Global M&A practice, added: “It has been a pleasure to support AllianceBernstein on the combination of two complementary businesses with a vision to form a leading full-service equity brokerage business. This transaction is one of a number of significant M&A mandates the firm has advised on in recent months.”

The Latham team was led by London corporate partners Rob Moulton and Ed Barnett and associates Medha Marathe and Jonathan Ritson-Candler. Support from the firm’s global M&A and FIG platforms was provided by London associates Christian Roberts, Darragh Hyland, and Zeynep Kocabas, Paris partner Thomas Vogel, Hong Kong associate Adrian Fong, Singapore associate Gen Tan, Washington, D.C. partner Marlon Paz, and New York associate Naim Culhaci. Advice was also provided on tax matters by London partner Helen Lethaby and Chicago partner Diana Doyle, with London associate Amy Watkins, and Washington D.C. associate Robert Christoffel; on employment matters by London partner Sarah Gadd, with associate Charlie Bowden; and on data and technology matters by London partner Deborah Kirk, with associates Grace Erskine and Kate Burrell.