Linklaters advised Xiamen International Bank (XIB) on its acquisition of approximately 64% of Chiyu Banking Corporation from BOC Hong Kong.

XIB is a Chinese commercial bank headquartered in Xiamen City, Fujian Province, the People's Republic of China. It also owns Luso International Bank in Macau. Chiyu Bank is a licensed bank in Hong Kong with a network of 24 branches in Hong Kong and two branches and two sub-branches in mainland China.

The Linklaters team was led by partner Gilbert Li and Counsel John Xu with assistance from Associates Tiffany Yan, Wuji Zhang, George Chiu and Bill Chan.

Gilbert Li, Corporate partner at Linklaters, commented:

“This exciting acquisition closely follows other significant deals in the sector and further cements our market-leading position advising financial institutions on M&A transactions in Asia.”  

This HK$7.7 billion transaction follows recent M&A deals led by Linklaters which include advising ANZ on the sale of a number of its SE Asia retail and wealth management businesses to DBS Bank and advising Dah Sing Financial Holdings on the sale of its life insurance subsidiaries in Hong Kong and Macau to Thai Hot Investment.

Linklaters Corporate team is ranked Band 1 in Chambers for Corporate/M&A in China and Asia.