White & Case and Clifford Chance (CC) have landed the advisory mandates on Industrial and Commercial Bank of China's (ICBC) $770m (£635m) acquisition of a majority stake in South Africa's Standard Bank.

The deal, which closed yesterday (29 January), was billed by one lawyer involved in the transaction as a joint venture between the largest banks in Asia and Africa.

White & Case advised ICBC, fielding a multi-office team for the deal led by New York-based relationship partner Francis Zou and London Philip Broke.