Latham & Watkins Advises Madison Dearborn Partners in Acquisition of M&T Bank’s Wilmington Trust CIT Business
Wilmington Trust, N.A., a leader in wealth management and corporate and institutional services and a wholly-owned subsidiary of M&T Bank Corporation (NYSE: MTB), has announced an agreement with Madison Dearborn Partners, LLC (MDP), a leading private equity firm based in Chicago, under which an affiliate of MDP funds will acquire Wilmington Trust's Collective Investment Trust (CIT) business. Upon completion of the transaction, the CIT business will become an independent company with a new brand name owned by an affiliate of MDP funds.
Latham & Watkins LLP represents MDP in the transaction with a corporate deal team led by Chicago partners Owen Alexander and Neal Reenan, with associates Sarah Loiselle, Byron Patton, and Shana Nissan, and with support from Chicago partner Bradley Faris and associate Kevin Uhler. Advice was also provided on benefits and compensation matters by New York partner Jennifer Pepin, with associate Anne Bracaglia; on ERISA matters by Chicago partner Ben Rosemergy and Los Angeles counsel Aryeh Zuber; on tax matters by Bay Area partner Katharine Moir, with associates Pierce Pandolph and Christina McLeod; on intellectual property matters by Washington, D.C. partner Jeremiah Wolsk, with associate Lyle Stewart; on labor matters by Chicago partner Nineveh Alkhas, on banking regulatory matters by New York partners Arthur Long and Alan Avery and New York counsel Pia Naib; on funds regulatory matters by Chicago partner Laura Ferrell, with associate Mike Hart-Slattery; on environmental matters by Washington, D.C. partner James Barrett, with associate Andrew Landolfi; on real estate matters by Chicago partner Robert Buday, with associate Karen Ritter; on data privacy matters by Bay Area partner Robert Blamires, with associate Kathryn Parsons-Reponte; on ESG matters by New York partner Betty Huber, with associate Karmpreet Grewal; on private equity finance matters by New York partner Stephanie Teicher; and on antitrust matters by New York partner Katherine Rocco and Washington, D.C. counsel Joseph Simei, with associates Doug Tifft and Denver Dunn.