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The exterior of Oversea-Chinese Banking Corporation (OCBC) bank at the central business district in Singapore, February 17, 2022. REUTERS/Caroline Chia

 

Singapore Big Four law firm WongPartnership is advising insurer Great Eastern Holdings in relation to a S$1.4 billion ($1 billion) buyout offer from its top shareholder, Oversea-Chinese Banking Corporation (OCBC), which is being represented by Allen & Gledhill.

OCBC, Singapore's second-biggest lender, announced the voluntary unconditional general offer on May 10 to acquire the 11.56 percent stake in Great Eastern that it does not already own.

Great Eastern is Singapore's largest insurer, with over S$100 billion in assets and more than 16 million policyholders, including 13 million from government schemes.

Partners Ng Wai King, Chan Sing Yee, and Soong Wen E are leading the WongPartnership team.

The A&G team is led by partners Lim Mei, Prawiro Widjaja, Lee Kee Yeng, and Jerald Soon.

 

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

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