Skip to main content

Clifford Chance and Linklaters have scored prime advisory roles in China CITIC Bank Corp’s purchase of a 29.7 percent stake from Banco Bilbao Vizcaya Argentaria, S.A (BBVA) of Citic International Financial Holdings Ltd (CIFH) for $1.05 billion. 

CIFH is the investment holding arm of the CITIC Group outside mainland China. The deal is expected to make CIFH a wholly owned entity by its parent company, China CITIC Bank, which is China’s seventh-largest lender and already owns the remaining 70.3 percent stake. 

Clifford Chance’s team which advised CNCB on the deal was led by corporate partner Terence Foo, with assistance from senior associates Zhang Hong and Ian Yang and associate Janet Jiang. BBVA, meanwhile, was represented by Linklaters.

As Spain’s second-biggest bank, BBVA has been struggling to lower its exposure to China in recent years, as the bank was hit hard by Spain’s property market collapse, and also because the new international rules make it expensive to hold minority stakes in lenders. 

 

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。