ACCRALAW advised Thailand’s Bank of Ayudhya, commonly known as Krungsri, in its acquisition of a 50% stake in SB Finance Company, Inc. (SBF), Security Bank’s consumer finance subsidiary.
Krungsri is the fifth largest financial group in Thailand and its investment in SBF is expected to strengthen the consumer banking services of Security Bank. Krungsri is also a member of the Mitsubishi UFJ Financial Group (MUFG) network, which is also an investor in Security Bank.
The partnership deal with Krungsri was initially announced in August last year and was recently completed after all necessary regulatory approvals in the Philippines and Thailand were obtained.
The Firm’s lawyers from its Corporate and Special Projects Department, namely Andre B. Navato, Jr., Maria Angeline L. Tayag, and Korina T. Manibog, represented Krungsri in the said transaction.
ACCRALAW is highly regarded by legal publications as a leading law firm for M&A transactions, capital markets, banking and finance, and other corporate transactions.