Shearman & Sterling’s London arm has secured a lead role on a major corporate transaction, acting opposite Linklaters on the sale of a £2.3bn stake in Standard Chartered.
Shearman advised the estate of the late Singaporean businessman Tan Sri Khoo Teck Puat, which sold an 11.55% stake in the London based bank to Singapore investment house Temasek Holdings. The sale, which was done under UK law, is still subject to regulatory approval and sees the transfer of the largest single shareholder stake in the FTSE 100 bank, which has a current market capitalisation of £20bn.
