Corporate Finance DEAL Information

Industrial and Commercial Bank of China, China

Value (£M) - 1280.0

Goldman Sachs Group Inc, New York, USA, provider of investment banking, securities and asset management services to corporations, financial institutions, governments and individuals, divested 3,030,000,000 H-Shares or a 0.9% stake in Industrial and Commercial Bank of China (ICBC), Beijing, Peoples Republic of China, provider of a diversified range of banking services, at a price of HK$4.88 (GB£0.42) per share. Consideration HK$14.8bn (GB£1,280,851,205). Goldman Sachs Group Inc raised 26% more than the ICBC divestments of Allianz SE and American Express Co. The share price represents a 4.5% discount on the last closing price of HK$5.11 (GB£0.44) per share. Goldman Sachs Group Inc now holds 13,000,000,000 ICBC shares or a 4% stake subject to lock up until 28 April 2010, in addition to 263,000,000 shares it can trade freely.


Morgan Stanley, USA

Value (£M) - 822.0

China Investment Corp, Beijing, Peoples Republic of China, investor in different industries including banking, plans to acquire a 2% stake or 44,700,000 shares of common stock in Morgan Stanley, New York, USA, provider of investment banking and other financial services, for a price of US$27.44 (GB£18.40) per share. Consideration US$1,266,568,000 (GB£849,492,042). The share price equates to an 8.2% discount on the last closing stock price of US$29.89 (GB£20.04) per share. The purchase raises its equity stake from approximately 7.86% to 9.86% of Morgan Stanley share capital.


Wind River Systems Inc, USA

Value (£M) - 537.0

Intel Corp, Santa Clara, California, USA, a designer, developer, manufacturer and marketer of advanced microcomputer products, entered into a definitive agreement to acquire Wind River Systems Inc, Alameda, California, USA, a provider of software development tools. Under the terms of the agreement, Intel will pay US$11.50 (699p) in cash for each Wind River Systems share. Aggregate consideration approximately US$884m (GB£537.84m).


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