19 05 2016

Citigroup and US Bancorp sell their Brazilian card payment processing joint venture to local counterpart Stone Pagamentos

Veirano advised Bancorp and Pinheiro Neto worked with Citigroup


U.S. Bancorp is a diversified financial services company that provides lending and depository services, cash management, foreign exchange and trust and investment management services. The company, led by Richard K Davis, Kathleen Ashcraft Rogers, P W Parker, Jim Kelligrew and Leslie V Godridge, is based in Minneapolis (MN). Citigroup Inc., a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions worldwide. The bank, led by Michael L. Corbat, James A. Forese, John C. Gerspach, Don Callahan and Stephen Bird, is based in New York (NY). Stone Pagamentos was founded in 2012. The company ended 2015 with US$56 million worth of negative equity. Stone has agreed to provide funds for the company's growth as part of the acquisition. Veirano Advogados represented US Bancorp with a team including Roberto Rudzit (Picture),  Graziela Pinto Lima, Diego Lecuona and Erica Alvarenga. Pinheiro Neto Advogados has advised Citigroup with a team including Bruno Balduccini, Fernando Del Nero Gomes, Ricardo Binnie and Julia Durigan. Timoner & Novaes Advogados has advised Stone Pagamentos with a team including Carlos Andre Teixeira Ramos Novaes, Simone Vulcano Medeiros, Carolina Pazello and Augusto Borsarelli Carvalho de Brito? Involved fees earner: Roberto Rudzit Neto - Veirano Advogados; Graziela Pinto Lima Galves - Veirano Advogados; Diego Maia Lecuona - Veirano Advogados; Érica Alvarenga - Veirano Advogados; Bruno Balduccini - Pinheiro Neto; Fernando Mirandez Del Nero Gomes - Pinheiro Neto; Ricardo Glaessner Binnie - Pinheiro Neto; Julia Carnevalli Durigan - Pinheiro Neto; Carlos Andre Teixeira Ramos Novaes - Timoner & Novaes Advogados; Simone Vulcano Medeiros - Timoner & Novaes Advogados; Carolina Pazello - Timoner & Novaes Advogados; Augusto Borsarelli Carvalho de Brito - Timoner & Novaes Advogados;

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