RBS Announces Sale Of Its Stake In Bank Of China

Davis Polk & Wardwell advised Morgan Stanley & Co. International plc, ABN AMRO Bank N.V., Hong Kong Branch and BOCI Asia Limited as placing agents in connection with the Rule 144A and Regulation S offering by the Royal Bank of

By None

Davis Polk & Wardwell advised Morgan Stanley & Co. International plc, ABN AMRO Bank N.V., Hong Kong Branch and BOCI Asia Limited as placing agents in connection with the Rule 144A and Regulation S offering by the Royal Bank of Scotland of its entire 4.26% stake in Bank of China Limited.

This offering, which raised $2.3 billion, follows other global financial institutions, including UBS and Bank of America, which have recently sold all or part of their stakes in Chinese banks. The Royal Bank of Scotland paid $1.6 billion for its stake in August 2005 prior to Bank of China’s 2006 initial public offering on the Hong Kong Stock Exchange.

D.C.

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