Sok Xing & Hwang Acted as Local Counsel Advising Bank SinoPac on Groundwork for 100% Acquisition of Amret Plc.

Sok Xing & Hwang is pleased to have acted as one of the local counsels providing groundwork advice to Bank SinoPac, a wholly owned subsidiary of SinoPac Holdings based in Taiwan, on its planned 100% acquisition of Amret Plc. at the price of around half a billion United States dollars.

Sok Xing & Hwang team was co-led by Senior Director Xing Jiajia and Managing Director Sok Lor, supported mainly by Associates Peou Putheavy, Kong Puthnita, Lam Kimleng, Soun Somanut, and Sun Neakputhkun. The assistance covered full-fledged legal due diligence over headquarter and more than 150 local branches of Amret Plc., Cambodia’s largest microfinance deposit-taking institution by total assets., and review and negotiation of sale and purchase agreement in the bidding process.

Xing Jiajia, Senior Director and local lead for the transaction said “As one of the local counsels, we are delighted to have advised Bank Sinopac on this complex cross-border transaction. Congratulations to Bank SinoPac team and wishing the team much success as it expands its overseas business by entering the Cambodian market.”

The announcement of Bank SinoPac on the acquisition of Amret is accessible on the bank’s website here. The transaction was reported by Nikkei Asia through the link here.