Latham advises AllianceBernstein on a joint venture between its brokerage/distribution business Sanford C Bernstein and Société Générale

Latham & Watkins advised AllianceBernstein (NYSE: AB), a global leader in investment management and research, on the creation of its joint venture with Societe Generale (EURONEXT: SCGLY), a European foreground.

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

“We are delighted to have supported our long-time client on this transformative deal,” said Rob Moulton, Financial Regulatory Partner in London and Head of Global Relations at AllianceBernstein. “Our role in the transaction highlights the strength of the company’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 in combining two complementary businesses with a vision to form a 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 partners Rob Moulton and Ed Barnett and partners Medha Marathe and Jonathan Ritson-Candler. Support from the firm’s global M&A and FIG platforms was provided by London partners Christian Roberts, Darragh Hyland and Zeynep Kocabas, Paris partner Thomas Vogel, Hong Kong partner Adrian Fong, Singapore partner Gen Tan, Washington, DC partner Marlon Paz and New York partner Naim Culhaci. Advice was also provided on tax matters by London Partner Helen Lethaby and Chicago Partner Diana Doyle, along with London Partner Amy Watkins and Washington DC Partner Robert Christoffel; on employment issues by London partner Sarah Gadd, with partner Charlie Bowden; and on data and technology issues by London-based partner Deborah Kirk, with associates Grace Erskine and Kate Burrell.

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