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Troutman Sanders Advises Union Bankshares Corporation on $701 Million Acquisition

05.23.17

RICHMOND, VA., May 23, 2017 – Troutman Sanders LLP announced today that it is serving as legal advisor to Union Bankshares Corporation, Richmond, Virginia, in connection with the acquisition of Xenith Bankshares, Inc., Richmond, Virginia, in an all-stock transaction valued at $701 million.

The transaction, which is expected to close early next year, will result in the creation of Virginia’s largest community bank with combined assets in excess of $11.9 billion. The acquisition will also allow Union to expand its branch presence in the Hampton Roads market as well as in Northern Virginia, North Carolina and Maryland.

Troutman Sanders attorneys Jake Lutz, Mason Bayler, Seth Winter, Lynda Crouse and Robert Friedman led the team advising Union. Detailed information about the deal can be found here.

About Troutman Sanders

Troutman Sanders LLP is an international law firm with more than 650 lawyers in 16 offices located throughout North America and Asia. Founded in 1897, the firm’s lawyers provide counsel and advice in practically every aspect of civil and commercial law related to the firm’s core practice areas: Corporate, Energy and Industry Regulation, Finance, Litigation and Real Estate. Firm clients range from multinational corporations to individual entrepreneurs, federal and state agencies to foreign governments, and non-profit organizations to businesses representing virtually every sector and industry. See troutmansanders.com for more information.

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