Hogan Lovells Advises Goldman Sachs on 4.8% Investment in Trade & Development Bank of Mongolia LLC
9 February 2012
ULAANBAATAR, 9 February 2012 - Hogan Lovells has advised Goldman Sachs Group Inc. on the Mongolian aspects of their purchase of a 4.8% equity stake in the Trade & Development Bank of Mongolia LLC.
The Trade & Development Bank of Mongolia LLC, a major lender in the Mongolian market, is predicting an investment of US$68 billion within four years in new mines, roads and housing.
Hogan Lovells was the first global law firm to establish a permanent presence in Mongolia and is advising on a number of significant foreign direct investment transactions and projects in the energy, mining and infrastructure sectors.
The Hogan Lovells team which advised Goldman Sachs was led by Partner Michael Aldrich, along with associates Delgermaa Altantuya, Solongoo Bayarsaikhan and Nominchimeg Odsuren in Ulaanbaatar, supported by Asia Head of Corporate Jamie Barr and Senior Associate Laurence Davidson in Hong Kong.
Commenting on the transaction, Michael Aldrich, who leads Hogan Lovells' practice in Mongolia said:
"This transaction is yet another example of the investment opportunities present in the Mongolian market. As the country builds the infrastructure needed to grow its mining and energy industries, we can expect to see further foreign investment."