Slaughter and May advised Standard Chartered PLC on disposal of interest in PT Bank Permata Tbk

Slaughter and May advised Standard Chartered PLC on the Hong Kong and UK Listing Rules requirements relating to the sale of Standard Chartered Bank’s 44.56% equity interest in PT Bank Permata Tbk to Bangkok Bank Public Company Limited, which also acquired a stake of the same size from Astra International in the transaction. Upon completion of the transaction, Standard Chartered Bank will cease to hold any equity interest in PT Bank Permata Tbk.

The transaction, which was announced on 12 December 2019, constituted a discloseable transaction for Standard Chartered PLC under Chapter 14 of the Hong Kong Listing Rules, and a class 2 transaction under the UK Listing Rules.