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HomeLaw firmsDeals and TransactionsBTG Advaya, Nishith Desai, and Sullivan & Cromwell lead on 100% Acquisition...

BTG Advaya, Nishith Desai, and Sullivan & Cromwell lead on 100% Acquisition of SVB Global Services India by First Citizens Bank

First Citizens Bank acquired Silicon Valley Bridge Bank, N.A., First Citizens Bank has now completed a 100% acquisition of SVB Financial Group’s stake in SVB Global Services India LLP.

This acquisition aligns with First Citizens Bank’s strategic expansion and integration efforts post-acquisition of Silicon Valley Bridge Bank.

Legal Advisors and Transaction Teams

BTG Advaya provided legal counsel to First Citizens Bank for this acquisition. The BTG Advaya team was led by Managing Partner Ramesh Vaidyanathan, along with Partners Laxmi Joshi, Amit Baid, and Arjun Paleri. Senior Associate Sheel G, and Associates Suyash Sarvankar, Anshay Chopra, and Harinie S also contributed to the transaction.

Nishith Desai Associates represented SVB Financial Group, handling Indian legal, regulatory, and tax matters related to the deal. Their team included Huzefa Tavawalla, Chandrashekar K, Vasavi Kaparthi, Ipsita Agarwalla, Rakesh Krishnan, Faiza Khanum, and Nipasha Mahanta.

Sullivan & Cromwell LLP assisted SVB Financial Group with aspects of the transaction governed by US law.

SVB Global Services India LLP has been instrumental in providing technical support and IT services to the global operations of SVB Financial Group, enhancing the group’s operational efficiency and global service capabilities.

SVB Financial Group

SVB Financial Group, a prominent financial services company, primarily operates through its commercial banking subsidiary, Silicon Valley Bank. The group is known for serving the technology, life sciences, and venture capital industries, providing a range of banking services including loans, treasury management, and investment banking. SVB Financial Group has played a critical role in supporting innovative companies and their investors worldwide.

First Citizens Bank

First Citizens Bank, a major American banking institution, is known for its wide array of financial services, including personal banking, business banking, wealth management, and insurance. With a history dating back to 1898, the bank has grown through strategic acquisitions and organic growth, emphasizing personalized customer service and community involvement. The acquisition of Silicon Valley Bridge Bank and subsequent purchase of SVB Global Services India signifies First Citizens Bank’s commitment to expanding its footprint and enhancing its service offerings in the technology and innovation sectors.

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