Ballard Spahr Represents DLP Bancshares in Acquisition of Sunnyside Bancorp
Ballard Spahr represented DLP Bancshares, an affiliate of DLP Real Estate Capital, in its acquisition of Sunnyside Bancorp (OTCBB: SNNY) and its subsidiary, Sunnyside Federal Savings and Loan Association of Irvington (New York).
The transaction is subject to regulatory approval and approval by Sunnyside Bancorp's shareholders, who will receive $15.55 in cash per share. The transaction is expected to close in the fourth quarter of 2021.
DLP Real Estate Capital has over $1.25 billion in assets under management, over 700 loans in portfolio, and has closed over 16,000 real estate transactions totaling more than $4 billion. Its full press release can be read here.
Business and Transactions Partner Scott A. Coleman led the Ballard Spahr team, which included Partners April Hamlin, Jonathan R. Flora and Joshua T. Natzel and Associates Katie M. LaGrange and Sarah B. Dannecker.
The lawyer in Ballard Spahr’s Business and Transactions Department work with clients of all sizes and stages of maturity to negotiate, structure, and complete transactions that improve competitive position, add value, and sustain growth. The attorneys of the firm’s Mergers and Acquisitions Group represent buyers and sellers ranging from small, privately held companies to multinational public companies in transactions that span the lower-middle and middle markets to multi-billion dollar mergers.