Cleary Gottlieb is advising J.C. Flowers & Co. LLC on its €3 billion sale of Dutch bank NIBC to Kaupthing Bank.
J.C. Flowers is a private equity firm based in New York that is focused solely on the financial service sector. Its latest fund has over $7 billion in commitments from investors. J.C. Flowers leads a consortium of shareholders which currently owns NIBC, a merchant bank focussed on the mid-cap segment in western Europe with a global distribution network.
Kaupthing, a European bank headquartered in Iceland, is the seventh largest bank in the Nordic region based on market capitalization.