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.