1 December 2017
Clifford Chance advises ICBC's Sino-Central Eastern European Fund on Hungary's EX-IM Bank's investment
Leading international law firm Clifford Chance advised ICBC's Sino-Central Eastern European Fund on the admission of Hungary's EX-IM Bank to the Fund. Chinese Premier Li Keqiang arrived in Hungary this past Sunday for an official visit to the country and the sixth meeting of heads of government of China and 16 Central and Eastern European Countries (CEEC) in Budapest.
Partner Ying White who led on the deal said, "We were delighted to advise on this historic agreement – the first European addition to the Fund. This is another example of the firm's impressive work on 'One Belt One Road' deals."
Ying was supported by associates Albert Fu, Angela Liu and trainee Bernice Lin. Luxembourg partner Paul van den Abeele advised on European regulatory aspects.
Last year, Ying and her team advised ICBC on the establishment of the Sino-Central and Eastern European Fund which is focused on projects in Central and Eastern Europe. The size of the fund is expected to reach €10 billion. The team also advised on the establishment of a joint venture management company as part of the investment fund. The Fund initiative and was formally announced at the China and CEE Countries "16+1" Summit in Riga, Latvia on 5 November 2016.