Singapore, 7 March 2007 – LAWFUEL – Asia Business + Law News, Law Jobs – Baker & McKenzie announced today that its member firm in Malaysia, Wong & Partners, acted as transaction counsel and advisor to The Bank of Tokyo – Mitsubishi UFJ, Ltd. (“BTMU”) in connection with its subscription for 117 million shares in Bumiputra-Commerce Holdings Bhd (“BCHB”), one of the largest local Banks in Malaysia, in a placement worth RM1.335 billion (US$380 million). The subscription agreement was executed recently on 21 February 2007.
Andre Gan, a Corporate and Commercial Partner with Wong and Partners commented, “This transaction is significant as upon the completion of the subscription, which is conditional upon certain regulatory approvals, BTMU will raise its holdings in BCHB from 1.1% to 4.5% of the share capital of BCHB. BTMU will also be given board representation in BCHB.” Andre was assisted by the Senior Associate, Azizul Azmi Adnan.
This transaction sees the Firm continue to act for the client. In January 2006, the Baker & McKenzie’s Hong Kong office advised on the merger in relation to the Hong Kong branches of The Bank of Tokyo-Mitsubishi, Ltd and UFJ Bank Limited, to form The Bank of Tokyo-Mitsubishi UFJ, Ltd. The merger became effective as of 1 January 2006. The merger created the world’s largest bank by assets.