Baker & McKenzie is advising Taiwan’s CTBC Financial Holding Co. Ltd. on its $527 million purchase of a majority stake in Tokyo Star Bank.
CTBC, formerly known as Chinatrust, will acquire 98.16 percent of the Japanese bank from Shining Star Godo Kaisha and Allied Holdings Godo Kaisha, the bank’s Japanese shareholders. In a statement, CTBC said the deal would help to further grow its footprint in Northeast Asia.
The deal is subject to regulatory and shareholder approval. No date was given for when that was expected.
Baker & McKenzie Taipei partner Joseph Fu led the firm’s advisory team, with support from Tokyo partner Norihiro Sekiguchi.
Japanese firm Mori Hamada & Matsumoto, led by partner Seiichi Okazaki, is acting for Tokyo Star shareholders Shining Star and Allied Holdings.*
*Correction, 11/6/13: A previous version of this story misstated that Mori Hamada & Matsumoto was acting for Tokyo Star Bank. In fact, the firm is acting for Tokyo Star shareholders Shining Star Godo Kaisha and Allied Holdings Godo Kaisha. We regret the error.