Freshfields advises Deutsche Bank on sale of stake in Hua Xia Bank
International law firm Freshfields Bruckhaus Deringer has advised Deutsche Bank on the sale of its stake in Chinese financial institution Hua Xia Bank (Hua Xia)
Under the terms of the transaction, Deutsche Bank will sell the entirety of its 19.99 per cent stake in Hua Xia to leading Chinese insurer PICC Property and Casualty Company Limited for a consideration of between RMB 23bn and RMB 25.7bn (US$3.54bn and US$3.96bn), subject to final price adjustment at closing.
The transaction remains subject to regulatory approvals.
In 2010, Freshfields previously advised Deutsche Bank on the increase of its stake in Hua Xia.
The Freshfields team advising on the transaction was led by corporate partners Melissa Thomas, Heiner Braun and Alan Wang.
