A&O and Cleary land Standard Chartered's Korean bank deal
Firms win lead roles advising on single largest overseas investment in the country
January 19, 2005 at 07:03 PM
2 minute read
Allen & Overy (A&O) and Cleary Gottlieb Steen & Hamilton have scooped the lead roles on Standard Chartered Bank's $3.3bn (£1.8bn) acquisition of Korea First Bank.
A&O advised Standard Char-tered on the deal, the largest single overseas investment ever in the country. The work was secured ahead of other global panel members Clifford Chance, Linklaters and Lovells.
Hong Kong corporate partner Stanley Chow led the A&O team, alongside corporate partners Ian Johnson and Hyo Young Kang. Global corporate chief Richard Cranfield advised Standard Charon City aspects. The vendor on the deal, Newbridge Capital, held a 48.6% controlling stake in the bank. Regular counsel Cleary Gottlieb Steen & Hamilton advised on the sale.
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