Hogan Lovells, Sullivan act as Goldman takes Mongolian bank stake
Hogan Lovells and Sullivan & Cromwell have advised Goldman Sachs on its purchase of a 4.8% equity stake in the Trade & Development Bank of Mongolia.
Hogan’s Mongolia office head Michael Aldrich advised the investment bank on Mongolian aspects of the deal, supported by a team of associates from the firm’s Ulan Bator office.
Meanwhile, the Sullivan team acting for Goldman included Hong Kong corporate partner Michael DeSombre, with New York partners Michael Wiseman and Michael Escue advising on Bank Holding Company Act matters and New York partner Ronald Creamer providing tax advice.
Aldrich commented: “We are very pleased to have advised Goldman Sachs on its first deal in the Mongolian financial sector. It is certainly a privilege for us to be serving increasing numbers of foreign and Mongolian multinational corporations at this historic juncture in the country’s development.”
Hogan Lovells was the first global firm to establish a Mongolia office, opening in Ulan Bator via a formal alliance with local firm GTs Advocates in August 2010. Since then, both DLA Piper and Australian firm Minter Ellison have launched local bases.
DLA’s Mongolian entrance was engineered through an alliance with local firm C&G Partners, with DLA targeting local work in sectors including mining, capital markets, banking, project finance, hospitality and leisure and infrastructure.
Meanwhile, Minter’s local launch earlier this month came in response to demand from clients including mining companies and investment banks.
Hogan’s Mongolia office head Michael Aldrich advised the investment bank on Mongolian aspects of the deal, supported by a team of associates from the firm’s Ulan Bator office.
Meanwhile, the Sullivan team acting for Goldman included Hong Kong corporate partner Michael DeSombre, with New York partners Michael Wiseman and Michael Escue advising on Bank Holding Company Act matters and New York partner Ronald Creamer providing tax advice.
Aldrich commented: “We are very pleased to have advised Goldman Sachs on its first deal in the Mongolian financial sector. It is certainly a privilege for us to be serving increasing numbers of foreign and Mongolian multinational corporations at this historic juncture in the country’s development.”
Hogan Lovells was the first global firm to establish a Mongolia office, opening in Ulan Bator via a formal alliance with local firm GTs Advocates in August 2010. Since then, both DLA Piper and Australian firm Minter Ellison have launched local bases.
DLA’s Mongolian entrance was engineered through an alliance with local firm C&G Partners, with DLA targeting local work in sectors including mining, capital markets, banking, project finance, hospitality and leisure and infrastructure.
Meanwhile, Minter’s local launch earlier this month came in response to demand from clients including mining companies and investment banks.
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