Japan-based Mizuho Financial Group, Inc. has signed an agreement to acquire Greenhill & Co., Inc. for $550 million. According to the official announcement, the deal will be an all-cash transaction at $15 per share and is expected to close by the end of the year.
Mizuho revealed that it will accelerate its investment banking growth strategy with the acquisition of Greenhill, building on investment bank’s 27-year history.
The announcement further detailed that Greenhill will operate globally from its 15 locations around the word as the advisory business of Mizuho, preserving the Greenhill brand and the existing Greenhill leadership team.
Jerry Rizzieri, President and CEO, Mizuho Securities USA, said:
Greenhill is a proven industry leader, and its team has led many of the largest and most complex transactions for clients globally, across a wide range of sectors. Mizuho is committed to the expansion of its investment banking platform, and we are excited for the Greenhill team and brand to become a core pillar of this strategy.
Additionally, Scott L. Bok, the Chairman and Chief Executive Officer of Greenhill, is set to assume the role of Chairman for the M&A and restructuring advisory division. Meanwhile, Kevin Costantino and David Wyles, the current Co-Presidents of Greenhill, will take on the position of Co-Heads for the same business segment. This restructuring within Greenhill will position it under the banking division of Mizuho, led by Michal Katz, who serves as the Head of Banking in the Americas.
Scott Bok, Chairman & CEO, Greenhill, said
Our clients will continue to receive the same high quality advice from the same team, operating under the same brand, overseen by the same management. In addition, those clients will now benefit from access to the wide range of financing, capital markets and other products offered by Mizuho, one of the world’s leading banks. Our employees will see little change in their day-to-day work and will benefit from access to Mizuho’s vast global client base as well as its broad range of products.
