Skip to main content

Freshfields Bruckhaus Deringer has advised Deutsche Bank in a deal worth up to $4 billion to sell its entire 20 percent stake in Hua Xia Bank to China-based People’s Insurance Company Group (PICC), which was represented by Davis Polk & Wardwell.

Linklaters served as legal counsel to PICC Property and Casualty Company, a PICC subsidiary through which the transaction was carried out. JunHe represented PICC on matters involving Chinese law while Haiwen handled China-related legal concerns for Deutsche Bank.

Deutsche is expected to gain between 23 billion and 25.7 billion yuan from the stake sale at current exchange rates, depending on Hua Xia's share price before the deal closes. Shanghai-listed Hua Xia, which is headquartered in Beijing, has about 80 branches and a market capitalisation worth $20 billion. The acquisition provides PICC with a new channel to distribute its insurance products.

The Freshfields team was led by corporate partners Melissa Thomas, Alan Wang and Heiner Braun. Davis Polk’s Hong Kong-based partner Antony Dapiran oversaw the deal for the firm while Beijing-based corporate partner Pui Hong Chik headed the Linklaters team.
 
Partner Yu Yongqiang led the deal for Jun He while partner Lan Jie handled the reins for Haiwen.

While Deustche Bank has divested its stake in Hua Xia, it still has interests in China, operating a securities joint venture and an asset management business in the country.

Related Articles

通商、汉坤、世达、瑞生助力文远知行成为全球Robotaxi第一股(ZH/EN)

中国自动驾驶科技公司文远知行成功在纳斯达克上市,结合此前已披露的3.2亿美元的私募配售,总募资金额达到4.585亿美元。

金杜、竞天公诚牵头地平线54亿港元香港IPO,三年来科技企业境外最大发行(ZH/EN)

10月24日,中国智能驾驶科技企业地平线在港交所成功上市,募资总额为54亿港元,成为2024年港股最大科技股IPO,也是三年来中国科技企业最大境外IPO。

方达、年利达、A&O Shearman助力中国财政部发行20亿欧元主权债券(ZH/EN)

中国财政部在法国巴黎成功簿记发行20亿欧元主权债券。年利达作为国际法律顾问为财政部提供服务;方达律师事务所作为联席主承销商中国法律顾问参与本次发行;A&O Shearman则为联席牵头经办人提供法律服务。