Timothy Loh LLP Advised Financial Institution on US$102 Million Purchase and Sale of Private Wealth Management Business

Our Financial Institutions M&A Practice and Private Wealth Mangement Practice represented a U.S. based Fortune Global 200 financial institution with a market capitalization of about US$35 billion in the US$102 million sale of its private wealth management business to a European based financial institution.

Our corporate and regulatory lawyers provided guidance on the following:

  • advising on legal due diligence, including terms and conditions of due diligence, documentary disclosures, pre-completion access to target company executives, confidentiality provisions, non-solictiation restrictions, and on the terms of the representations and warranties in the sale and purchase agreement (“SPA”)

  • advising on Hong Kong employment law issues, including terms and conditions of post-completion retention packages, non-disclosure and confidentiality clauses and restrictive covenants, including non-compete and non-solicitation clauses

  • advising on applications to the Hong Kong Securities and Futures Commission (“HKSFC”) for change of substantial shareholder, including a change of business plan, and a change of responsible officers and directors

  • advising on post-merger integration of regulatory systems and policies and procedures to ensure compliance with HKSFC requirements.