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Slaughter and May advised American Express Company in its sale of 638,061,116 H shares in Industrial Commercial Bank of China Limited by way of placing to private investors through Goldman Sachs (Asia) L.L.C. acting as placing agent. The sale was made on 28 April 2009, the date of expiry of the lockup imposed on American Express Company pursuant to the Shareholders' Rights Agreement entered into prior to the initial public offering of the ICBC H shares. American Express Company expects to recognise a gain of approximately US$210 million on the sale of the ICBC shares. American Express Company is a leading global payments and travel company founded in 1850. Neil Hyman (partner), Gary Hau (associate)
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