A&O is advising Sumitomo Mitsui Banking Corporation (SMBC) on its £500m investment into Barclays, while CC has taken the lead role for Barclays.
Corporate managing partner Andrew Ballheimer is leading the A&O team advising the Japanese bank on all
CC is fielding a team under
The
Sumitomo’s investment – which represents around 11% of the new shares being issued - makes it the third biggest investor after the Qatar Investment Authority and Challenger, which have agreed to invest up to £1.76bn and £533m respectively.
In addition to the investment SMBC and Barclays have agreed to look at opportunities for working together.
Linklaters, Norton Rose and Latham & Watkins have also won roles on the deal. Latham is acting for QIA with London corporate partners Nick Cline and Graeme Sloan leading. Linklaters is advising Temasek which is to invest up to £200m in Barclays with London corporate partner William Buckley leading the team. Norton Rose corporate partner Martin Scott is advising another investor, China Development Bank.
Ballheimer said: “This is a key strategic investment by SMBC and we are very pleased to be involved in this groundbreaking transaction. This is a viable alternative to the traditional rights issue.”