ATLANTA (June 29, 2009) – Today, First Data Corp. and Bank of America N.A. announced the formation of a new company, Banc of America Merchant Services, LLC, that will deliver next-generation payments solutions to merchants ranging from small business to commercial and corporate clients worldwide. Sutherland Asbill & Brennan LLP served as lead transaction counsel to First Data Corp. for this joint venture, including the contribution of existing businesses involved in the venture’s formation.
The Sutherland team was led by Robert J. Pile in Atlanta and included Corporate Partners Edward W. Kallal Jr., Marc A. Rawls, Eric R. Fenichel, and Peter C. Quittmeyer in Atlanta; Robert E. Copps in New York; and Elisabeth A. Langworthy in Washington, D.C. Other attorneys included Counsel Robert J. Neis in Atlanta; and Corporate Associates Michael Gurion, Jennifer D. Lambert, Catherine H. Manavi, and Brian M. Murphy in Atlanta; Bradley E. Prendergast in Washington, D.C.; and Phuc H. Lu in New York.
SUTHERLAND ASBILL & BRENNAN LLP
Sutherland Asbill & Brennan LLP is a law firm with global reach known for solving challenging business problems and resolving sophisticated legal issues for many of the world’s largest companies. Founded in 1924, the firm handles matters throughout the United States and worldwide. Seven major practice areas—corporate, energy and environmental, financial services, intellectual property, litigation, real estate, and tax—provide the framework for an extensive range of focus areas, allowing Sutherland attorneys to serve a diverse client base that includes a significant number of Fortune 100 companies.
Parties: First Data Corp. and Banc of America N.A.
Date of Completion (if applicable): June 26, 2009
Deal status: Closed
Which party firm advised: First Data Corp.
Advisory role: Lead transactional counsel
Deal Description or comments (if necessary): Formation of a new electronic payments joint venture, Banc of America Merchant Services, LLC, including contributions of existing businesses by First Data and Bank of America, and a related investment in the venture by a third-party investor, Rockmount Investments, LLC.
Value (if disclosed): N/A