The signing follows shareholders’ acceptance of Standard Chartered’s non-binding offer in May, with regulatory approvals still pending.
Standard Chartered signed definitive agreements to acquire Zodia Custody’s regulated operating entities, subject to regulatory approvals and closing conditions.
The signing advances a transaction announced in May, when Zodia’s shareholders accepted the bank’s non-binding offer.
As part of the deal, Standard Chartered would acquire 100% of Zodia Custody UK Limited, the parent company of Zodia’s regulated operating entities in Singapore, Hong Kong, Australia, Luxembourg and the United Arab Emirates, the bank said in a Wednesday announcement.
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