Davis Polk and White & Case advise on blockbuster Visa IPO

Davis Polk & Wardwell and White & Case have landed plum roles on the $19bn (£9.62bn) Visa IPO, the largest ever in US history.

Davis Polk head of capital markets Richard Sandler and New York-based partner Joe Hall are leading the team advising the underwriters on the deal, which will offer 447.2 million shares priced at between $37 (£18.73) to $42 (£21.26) per share.

Lead banks Goldman Sachs and JP Morgan, as well as Banc of America Securities, Citigroup, HSBC, Merrill Lynch, Pierce, Fenner & Smith, UBS and Wachovia are underwriting the deal.

White & Case New York partners Ward Atterbury, Mark Mandel and Colin Diamond are advising Visa.

Mandel advised Visa on the global restructuring of its operations in Canada, the US and Europe in 2006, which was done in preparation for the IPO. Atterbury advised the group on the reorganisation of its global payment network.

The public will be able to purchase an allotted 406m of the credit card company’s shares, while the remaining 40.6m shares have been reserved for the underwriters.

The global transaction incorporates 50 different jurisdictions. Both Davis Polk and White & Case are using a multi-jurisdictional team in offices around the globe.

Davis Polk and White & Case declined to comment.