LAWFUEL – The Legal Newswire – Clifford Chance advises National Australia Bank Ltd on acquisition of a stake in a Chinese trust company Shanghai: Global law firm Clifford Chance has advised a major foreign enterprise seeking to acquire a strategic stake in a leading Chinese trust company.
The firm has acted for National Australia Bank Ltd (NAB) on its proposed acquisition of a 20% stake in Union Trust & Investment Limited (UTI). Pending regulatory approval, this deal is an important first step for NAB to take an active investment in China’s rapidly evolving trust sector.
Partner Emma Davies led the Clifford Chance team advising on the deal:
“We are very pleased to have had the opportunity to work with NAB in bringing the project to a successful signing. Both domestic and foreign financial institutions are becoming increasingly active in this sector and we expect to see more investments made as companies compete to build market share in the high-end investment sectors in China.”
The Clifford Chance core team consisted of Emma Davies, and Glen Ma (associate/assistant),
with support from Yang TieCheng (counsel) on regulatory issues.