Deal of the Year, Best Privatization
Bank of China restructuring and $2.67 billion IPO
Bank of China International, Goldman Sachs, UBS Warburg and Nomura POWL
What now stands as the largest bank merger and restructuring in Asian history outside Japan was two years in the making and of critical importance to the Chinese government. The merger and restructuring of 13 affiliate financial institutions of the Bank of China group in Hong Kong has heralded a new chapter in the country's privatization process as the government turns its attention to the arduous, but critical task of overhauling its domestic banking system.
The IPO came during a year when institutional investors fine-tuned their analysis of China's...