Evercore announces extended M&A deal with Mizuho

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Evercore Partners have announced that Evercore, Mizuho Bank, and Mizuho Securities have extended their mergers and acquisitions cross-border alliance for an additional three year period and expanded it to operate on a global basis.

The advisory alliance enables Evercore and Mizuho Securities to continue to capitalize on what we believe to be a positive long term trend driving outbound M&A from Japan; namely, the need for Japanese firms to seek growth outside of their domestic market. Together, Mizuho Securities and Evercore have successfully closed 9 cross-border mandates; we look forward to continuing to serve our clients in these important and complex transactions.

Ralph Schlosstein, Evercore’s President and Chief Executive Officer said, 'We are pleased to extend and expand our Alliance. Our longstanding relationship with Mizuho is an important part of our global strategy and enables Evercore and Mizuho to be well positioned to capture the ongoing M&A activity out of Japan'.

Masuo Fukuda, Managing Executive Officer and Joint Head of Investment Banking Division of Mizuho Securities commented, 'The overall trend of Japanese companies’ acquisitions of overseas companies will continue in the coming years, and as a leading global financial institution, Mizuho is well-positioned to serve such clients. We look forward to continuing our partnership with Evercore so that we can together provide the highest quality M&A advice to our respective clients'.

In conjunction with the renewal of the alliance, Mizuho Bank’s existing $120m of 5.2% senior notes will be surrendered and replaced by a new loan, and Mizuho Bank will exercise, in full, its warrant to purchase Class A shares of Evercore. Of the 5.45m shares issuable upon exercise of the warrant, 3.1m shares will be offered to the public and 2.35m shares will be repurchased by Evercore (subject to completion of the offering).

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