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Deals 21 January 2005

Allens Arthur Robinson (AAR) acted for the ANZ Banking Group in a joint venture with the Royal Group of Companies (Cambodia) to establish a bank in that country.To be known as the ANZ Royal…

user iconLawyers Weekly • 21 January 2005 • Big Law
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Allens Arthur Robinson (AAR) acted for the ANZ Banking Group in a joint venture with the Royal Group of Companies (Cambodia) to establish a bank in that country.To be known as the ANZ Royal Bank Cambodia, the joint venture represents a significant investment in Cambodia’s fledgling banking industry and is an important step in the country’s continuing economic development.ANZ will own 55 per cent of the new bank. The Shareholders Agreement between ANZ and the Royal Group of Companies (Cambodia) was signed on 1 November but the joint venture still requires regulatory approval from Cambodia’s central bank. The group plans to open the new bank later in 2005. AAR provided both legal and strategic advice to ANZ, with a team of lawyers from AAR’s offices in Singapore, Cambodia and Australia working together on the deal. Singapore-based partner Gavin MacLaren led the team that advised ANZ on this transaction. “This is an important transaction for banking in Cambodia, and we are pleased that we were able to help one of the firm’s clients in Australia as they expand further in Asia. “

 
 

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