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A global firm advised the Royal Bank of Scotland Group on the sale of its Malaysian assets to a Taiwanese financial holding company.
Firms: King & Wood Mallesons (Royal Bank of Scotland Group Plc); Tsai and Tsar (CTBC Financial Holding Co)
Value: US$188 million
Area: M&A
Key players: The King & Wood Mallesons team was led by partners Lee Horan (pictured) and Scott Farrell, with support from senior associate Claire Warren and solicitor Jennifer Cheung.
Deal significance: The Royal Bank of Scotland Group Plc (RBS) sold its assets in Malaysia to CTBC Financial Holding Co, one of Taiwan's leading financial holding companies.
CTBC Financial has agreed to purchase a 100 per cent stake in the RBS Berhad, a subsidiary of RBS, for US$188 million.
The acquisition will be completed through CTBC Financial's two subsidiaries, the banking flagship CTBC Bank and its insurance arm Taiwan Life Insurance.
It will be the first acquisition by a Taiwanese financial institution attempting to obtain a licence to operate a banking subsidiary in Malaysia, according to a release from King & Wood Mallesons.
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Lara Bullock
