On July 12, 2007, a signing ceremony was held in Qingdao, Shandong Province by Intesa Sanpaolo S.p.A.(ISP), Italy, the fourth largest bank in Europe and Qingdao City Commercial Bank (QCCB) for the execution of a subscription agreement, a framework agreement and a cooperation agreement. ISP shall subscribe for 19.99% of the outstanding shares of QCCB and conduct strategic cooperation with QCCB by providing it with technical support. The deal is subject to the approval of the China Banking Regulatory Commission. Llinks advised ISP as sole legal counsel on this deal in all aspects including due diligence, document drafting, negotiating and providing regulatory advice.
July 12, 2007
