M&A Deal Summary

Standard Chartered Acquires American Express Bank

On March 3, 2008, Standard Chartered acquired financial services company American Express Bank from American Express for 823M USD

Acquisition Highlights
  • This is Standard Chartered’s 1st transaction in the Financial Services sector.
  • This is Standard Chartered’s largest (disclosed) transaction.
  • This is Standard Chartered’s 1st transaction in India.

M&A Deal Summary
Date 2008-03-03
Target American Express Bank
Sector Financial Services
Buyer(s) Standard Chartered
Sellers(s) American Express
Deal Type Divestiture
Deal Value 823M USD

Target

American Express Bank

Gurgaon, India
American Express Bank Ltd.is the international banking subsidiary of American Express Company. Founded in 1919, it provides services to financial institutions, high net worth individuals and affluent customers through more than 74 locations in 47 countries.

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Buyer(S) 1

Buyer

Standard Chartered

London, United Kingdom

website

Category Company
Founded 1853
Sector Financial Services
Employees81,770
Revenue 14.6B USD (2021)
DESCRIPTION

Standard Chartered is a multinational banking and financial services company. Standard Chartered was founded in 1853 and is based in London, the United Kingdom.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (India) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-12 PT Bank Permata Tbk

Jakarta, Indonesia

PT Bank Permata Tbk is a commercial bank, with a sizeable presence across customer segments. With its leading retail deposit franchise and best-in-class digital capabilities, and led by its seasoned management team, Permata is well poised for growth post the recent restructuring. PT Bank Permata Tbk was founded in 1954 and is headquartered in Jakarta, Indonesia.

Sell $2.7B

Seller(S) 1

SELLER

American Express

New York, New York, United States

website

Category Company
Founded 1850
Sector Financial Services
Employees77,300
Revenue 52.6B USD (2022)
DESCRIPTION
American Express' regional offices in downtown Sydney, Australia.
American Express' regional offices in downtown Sydney, Australia.

American Express is a global financial services company offering payment and credit services to consumers and businesses. The Company's principal products and services are charge and credit payment card products and travel-related services. American Express was incorporated in 1850 and is based in New York City.

DEAL STATS #
Overall 4 of 7
Sector (Financial Services) 3 of 3
Type (Divestiture) 2 of 4
Country (India) 1 of 2
Year (2008) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-05 Harbor Payments

Atlanta, Georgia, United States

Harbor Payments, Inc. provides software for enterprises in billing and payments.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-29 Concur Technologies

Bellevue, Washington, United States

Concur is a provider of integrated travel and expense management solutions. Concur Technologies was established in 1993 and is headquartered in Bellevue, Washington.

Buy -
Mergr

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