Simpson Thacher Represents Cosmos Bank Taiwan in Its Acquisition by China Development Financial Holding
09.19.14
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Simpson Thacher represented Cosmos Bank Taiwan in its acquisition by China Development Financial Holding Corp. for NT$23.09 billion (US$759.39 million). Under the terms of the transaction, which closed earlier this week, each share in Cosmos Bank will be exchanged for 0.2 shares in China Development Financial, as well as NT$13.4 in cash per share, and Cosmos Bank will become a wholly owned subsidiary of China Development Financial. Affiliates of S.A.C. Private Capital Group and GE Capital Asia Investment Holdings directly and indirectly owned a majority interest in Cosmos Bank following a recapitalization in August 2008.
The Simpson Thacher team for the transaction includes Michael Reeves and Robert Smith (M&A - Los Angeles); Ian Ho (M&A - Hong Kong); and Brian Price (Credit).