Oversea-Chinese Banking Corporation Limited entered into an agreement to acquire private wealth business in Hong Kong and Singapore from National Australia Bank Limited.
On November 10, 2017, Oversea-Chinese Banking Corporation completed the acquisition of National Australia Bank's private wealth business in Singapore. Oversea-Chinese Banking Corporation's acquisition of National Australia Bank's private wealth business in Hong Kong is expected to complete on November 24, 2017.
Lee Taylor, Satbir Walia, Samantha Eng, Si Min Lee, Lena Ng, Sheena Teng, Matthias Feldmann, Helen Fok, Bo Lai, Clara Tang, Kenneth Yu and Anthony Fay of Clifford Chance acted as legal advisors for National Australia Bank Limited and Allen & Gledhill and Slaughter and May acted as legal advisors to Oversea-Chinese Banking Corporation Limited. Morgan Stanley Australia Limited acted as financial advisor for National Australia Bank Limited. Ernst & Young acted as a due diligence provider to National Australia Bank Limited.