Links and Slaughters lead on RBS China sell off

Linklaters and Slaughters have been handed roles on RBS’s $2.34bn (£1.6bn) sale of its entire stake in Bank of China, raising $2.34bn (£1.6bn) for the troubled lender.


Links and Slaughters lead on RBS China sell offLinklaters and Slaughter and May have been handed roles on Royal Bank of Scotland’s $2.34bn (£1.6bn) sale of its entire stake in Bank of China, raising $2.34bn (£1.6bn) for the troubled lender.

Linklaters advised key client RBS, led by corporate partner Anne Drummond (pictured). Corporate partner Matthew Middleditch and Hong Kong-based partner Betty Yap also acted on the sale, which saw RBS offload its 4.3 per cent stake of about 10.8 billion shares.

Slaughters represented Morgan Stanley, which is managing the sale, with Hong Kong-based partner Benita Yu advising.

RBS is trying to repair its damaged balance sheet following billions of pounds of losses on sub-prime investments.

Linklaters has cemented its relationship with the Government-controlled bank in recent months, with head of banking Robert Elliott advising on the £50bn bail out package in October 2007.

RBS is currently undergoing a review of its panel firms, The Lawyer reported in November.

Currently, Allen & Overy, Ashurst, Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters and Lovells all sit on the panel.

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