Simpson Thacher Represents Underwriters in Offering of American Depositary Shares of Grupo Financiero Galicia
10.16.17
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The Firm represented Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS Securities LLC, as underwriters, in connection with the registered public offering by Grupo Financiero Galicia S.A. of 104,300,000 Class B ordinary shares represented by American Depositary Shares. The proceeds to Grupo Financiero Galicia from the offering were approximately US$515 million.
Grupo Financiero Galicia is one of Argentina’s largest financial services groups with consolidated assets of US$15.3 billion as of June 30. Its principal subsidiary, Banco de Galicia y Buenos Aires S.A., is one of Argentina’s largest full-service banks and through its subsidiaries provides proprietary brand credit cards, consumer finance services and insurance products throughout Argentina.
The Simpson Thacher team for the transaction included Juan Francisco Méndez, Kirsten L. Davis, Pablo M. Richards and Josefa Rodríguez (Corporate); Deborah Plum (Tax); and Jennie Getsin (FINRA).