Japan-based Mizuho Financial Group has agreed to acquire American mergers and acquisitions (M&A) advisory firm Greenhill in an all-cash deal with an enterprise value of nearly $550m.

As per the terms of the transaction, the shareholders of the investment bank will receive a purchase price of $15 per share in cash from Mizuho Financial.

Through the acquisition of Greenhill, the Japanese banking holding company expects to expedite its investment banking growth strategy.

With headquarters in New York, Greenhill offers financial advice on significant mergers, acquisitions, financings, restructurings and capital raising to partnerships, corporations, institutions and governments worldwide.

Upon the completion of the deal, the firm will operate globally from its 15 locations around the world.

The locations include Singapore, Stockholm, Chicago, Houston, London, Frankfurt, Hong Kong, Madrid, Melbourne, Paris, San Francisco, Sydney, Tokyo and Toronto.

Greenhill is expected to become the M&A and restructuring advisory business of Mizuho Financial.

Greenhill chairman and CEO Scott Bok said: “Our clients will continue to receive the same high quality advice from the same team, operating under the same brand, overseen by the same management.

“In addition, those clients will now benefit from access to the wide range of financing, capital markets and other products offered by Mizuho, one of the world’s leading banks.

“Our employees will see little change in their day-to-day work and will benefit from access to Mizuho’s vast global client base as well as its broad range of products.”

Following the closing of the transaction, Mizuho Financial expects to welcome Greenhill’s 370 employees and the latter’s global client relationships.

Mizuho Securities USA president and CEO Jerry Rizzieri said: “Greenhill is a proven industry leader, and its team has led many of the largest and most complex transactions for clients globally, across a wide range of sectors.

“Mizuho is committed to the expansion of its investment banking platform, and we are excited for the Greenhill team and brand to become a core pillar of this strategy.”

Subject to Greenhill stockholders’ approval, regulatory approvals and other customary conditions, the transaction is expected to close by the end of 2023.