Login
Blakes represents ANZ on RBS acquisition
Deal summary:
Lawyers Weekly
|
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
| Australia and New Zealand Banking Group Limited (ANZ) acquisition of Royal Bank of Scotland's (RBI) retail, wealth and commercial businesses in Hong Kong, Indonesia, the Philippines, Singapore, Taiwan and Vietnam. Blake Dawson is acting for ANZ. The deal is valued at $687 million. The purchase price includes a premium of A$62 million to the fully provided recapitalised net tangible book value. Over the six jurisdictions, ANZ is to acquire A$9 billion of deposits, A$4 billion of loans, two million customers and 54 branches. Completion is expected to occur progressively from late 2009, subject to regulatory approvals in each market.
|
| Key players:
| Blake Dawson partners Tiffany Barton, David Williamson, John Sartori, Peter Stirling
|
| Commentary:
| "It's been our privilege to represent ANZ in this strategically important acquisition. A mix of the deal structure, and the regulatory issues involved across 6 jurisdictions, meant there were a range of complex and interesting issues to work through in order for the parties to reach agreement," commented corporate partner Tiffany Barton.
|
