Davis Polk, Skadden, Sullivan in Citi’s Wachovia buy

Davis Polk & Wardwell, Skadden Arps Slate Meagher & Flom and Sullivan & Cromwell have scored lead roles on Citigroup’s acquisition of Wachovia’s banking operations.

Partners John Ettinger and Phillip Mills are leading a Davis Polk team advising Citi, while Sullivan & Cromwell chairman Rodgin Cohen is leading a team advising Wachovia on its $10m common stock offering.

Skadden Arps Slate Meagher & Flom partners Eric Friedman and Greg Fernicola are leading the US firm advising alongside Davis Polk on due diligence.

A Cleary Gottlieb Steen & Hamilton team led by partners Alan Beller and Jeff Karpf are advising the underwriters of the deal.

The deal comes after Sullivan’s Cohen won a string of mandates in recent weeks including advising insurer AIG on its $85bn government bail out.

To read a new profile of Sullivan & Cromwell senior partner Rodgin Cohen, click here.