September 28, 2021
CTBC Bank’s USD 128 Billion Acquisition of Shares in LH Financial Group Public Company Limited

Tilleke & Gibbins’ M&A team in Thailand worked closely with Tsar & Tsai Law Firm to represent CTBC Bank, one of the largest privately owned banks in Taiwan, in its THB 4.2 billion (approx. USD 128 million) direct acquisition of an additional 10.99% stake in LH Financial Group Public Company Limited, which owns LH Bank, among other subsidiaries in Thailand.

To facilitate the deal, our team drafted and reviewed various transaction documents, including the share sale and purchase agreement, and assisted in negotiations over the documents with LH Financial Group.

Following the conclusion of the transaction, CTBC Bank now owns a 46.61% stake in LH Financial Group Public Company Limited, which operates over 120 branches across Thailand, and has more than 250 billion (USD 8.3 billion) in total assets.


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