Jurisdiction - Philippines
RCBC Advised By Skadden Sells 20% Stake To Cathay Life.

5 January, 2015


Rizal Commercial Banking Corporation (RCBC), one of the largest banks in the Philippines, announced on December 17, 2014 that Cathay Life Insurance Co., Ltd., a wholly owned subsidiary of Cathay Financial Holding Co., Ltd., the largest publicly-listed financial holding company in Taiwan, has agreed to acquire a 20 percent stake in RCBC for PHP17.92 billion (approximately US$402 million).


Skadden advised RCBC on the transaction.  The Skadden team includes partners Jonathan Stone (Hong Kong),Rajeev Duggal (Singapore) and associateZachary Levine (Singapore).


Please click this link for the press release from RCBC.


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