Davis Polk & Wardwell and Lee and Li Attorneys-at-Law are advising Taiwan’s Bank SinoPac on the sale of its U.S. subsidiary, SinoPac Bancorp, for $340 million to Cathay General Bancorp, which is being represented by Wachtell, Lipton, Rosen & Katz.

 The transaction is expected to be completed during the first half of 2017. The aggregate consideration mix paid to Bank SinoPac will be at least 90% cash, with Cathay having the option to pay the rest in common stock. 

The Davis Polk team on the transaction includes partners James C. Lin, John L. Douglas, Kathleen L. Ferrell, and Jean M. McLoughlin.