22 October 2009 - Drew & Napier LLC ("Drew & Napier") is acting as lead co-ordinating counsel for one of Singapore’s leading banking group Oversea-Chinese Banking Corp. ("OCBC") in its purchase of the Asian private banking assets of ING Groep NV ("ING"). The US$1.463 billion cash acquisition comprises Singapore-based ING Asia Private Bank Limited and other affiliated entities (IAPB).

This is possibly the largest private bank sale in recent years, not just in Singapore, but also in the region. The acquisition will more than triple the assets of OCBC's private banking asset to US$23 billion.

Subject to regulatory approvals being received in Singapore and other relevant jurisdictions, the transaction is expected to be substantially completed around year-end 2009.

The Drew & Napier team was led by Director Sandy Foo, Associate Directors Eric Chan and Benjamin Gaw.

About Drew & Napier LLC

Established in 1889, Drew & Napier LLC is one of Singapore's leading and largest law firms, with over 250 lawyers and fee-earners. Consistently rated top tier in dispute resolution over the years by international ranking organisations such as Asia Pacific Legal 500, Chambers Global, Practical Law Company, Best Lawyers and Asia Law, the firm has 7 Senior Counsel – the largest number of any Singapore law practice. The firm is headed by chief executive officer, Davinder Singh, Senior Counsel. Drew & Napier LLC is also rated top tier in Corporate Insolvency & Restructuring, Intellectual Property (Patents and Trademarks), Competition & Antitrust, Telecommunications, Media & Technology and Tax, with market leading practices in Mergers & Acquisitions, Corporate Finance, and Admiralty & Shipping. For more information, please visit www.drewnapier.com.