International law firm Clifford Chance has advised Dutch international financial services provider Rabobank Group on its memorandum of understanding (MOU) with the Agricultural Bank of China (ABC), establishing a strategic partnership for cooperation in several areas of business.
According to Clifford Chance, the terms of the MOU will seek to allow Rabobank and ABC to exchange mutual assistance, share experience in wholesale banking, rural finance, asset management and leasing, and explore ways in which the companies can unlock joint business opportunities.
Under the MOU, Rabobank will provide ABC with technical support, training and expertise in order to bolster its capabilities, while Rabobank will gain an invaluable opportunity to strengthen its position in the Chinese market.
"We are delighted to have supported Rabobank on another strategic partnership between a Chinese bank and international institution," said Asia Head of M&A, Roger Denny.
Denny led the Clifford Chance team and was supported by counsel Lachlan Jackson and senior associate Tianpeng Wang, both based in Beijing.