Weil Advises Sterling Shareholder in Sale of its Stake
A Weil, Gotshal & Manges team led by Corporate chairman Michael Aiello is advising Thomas H. Lee Partners, as 23% shareholder, in the $2 billion stock and cash sale of Sterling Financial, a holding company for Sterling Savings Bank, a provider of loan production and investment services, to Umpqua Holdings, Oregon’s biggest bank. The transaction, when consummated, will create a bank with $22 billion in assets, $15 billion in loans and $16 billion in deposits.
In addition to Michael Aiello, the Weil team advising Thomas H. Lee Partners includes Financial Institutions Regulatory partner Heath Tarbert (Washington, D.C.) and Corporate associate Natasha Gopaul (New York).
Previously on abfjournal: Umpqua Holdings Acquires Sterling Financial, September 13, 2013