The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Herbert Smith advised BoC’s major shareholder Central SAFE Investments. The company sold a 10 per cent stake in BoC worth $3.1bn to a consortium led by RBS. The group also includes Merrill Lynch and the Li Ka-Shing Foundation. The RBS stake accounts for 5 per cent and the bank will receive a seat on the BoC board. The deal values BoC at $30bn.
Herbert Smith fielded two teams, in London and Beijing, led by corporate partner Greg Mulley. He was aided by London partners Gareth Roberts and Chris Parson. In Beijing, managing partner Jeremy Xiao headed the team with senior consultant Karen Ip.
Mulley told The Lawyer that the deal demonstrates the Chinese government tactics of bringing strategic foreign investment and know how into its economy.
RBS is not the first foreign bank to buy a stake in a Chinese state-owned bank. Earlier this year Bank of America bought a 9 per cent stake in Construction Bank of China for $2.5bn.
Linklaters represented RBS led by London partner Robert Elliott. Sullivan & Cromwell partner Chun Wei, advised BoC.