Slaughter and May and Freshfields Bruckhaus Deringer have the lead roles on Singapore’s Oversea-Chinese Banking Corp.’s $4.9 billion bid for Hong Kong-based lender Wing Hang Bank Ltd.

OCBC, Singapore’s second-largest lender by assets, announced it had reached agreement with a group of Wing Hang shareholders, including the family of chairman Patrick Fung and Bank of New York Mellon Corp., to acquire the 45 percent of shares they jointly own. The Singaporean bank has offered to acquire all Wing Hang shares for around $16 each.

The deal will allow OCBC to add Wing Hang’s network of over 70 branches in Hong Kong, Macau and mainland China. DBS Group Holdings Ltd., Singapore’s largest bank, made a similar move in 2001, when it paid $5.3 billion for Hong Kong’s Dao Heng Bank Ltd. Wing Hang is presently Hong Kong’s second-largest privately-held bank, after Bank of East Asia.

The transaction, subject to approvals from Hong Kong and Singapore regulators, is expected to close before June 30, 2014.

Slaughter and May Hong Kong partners Neil Hyman and Clara Choi are leading a team representing OCBC on the deal.

Freshfields Asia managing partner Robert Ashworth and Hong Kong corporate partner Edward Freeman are leading the team advising Wing Hang Bank.

Email: azhang@alm.com.