Royal Bank of Canada Completes Acquisition of RBTT Financial Holdings Limited

On June 16, 2008, Royal Bank of Canada completed its acquisition of RBTT Financial Holdings Limited for a total purchase price of approximately US $2.2 billion. The transaction creates one of the most expansive banking networks in the Caribbean, with a presence in 18 countries and territories across the region. With more than US $13.7 billion in assets, the combined operations will have 130 branches across the Caribbean, with 7,000 employees serving more than 1.6 million clients.

Royal Bank of Canada was represented in-house by a team that included Anthony Pagano, Jennifer Wood, Erin Dion and Lucille D'Souza, and was represented in Canada by Osler, Hoskin & Harcourt LLP, with a team that included Stephen Sigurdson, Mary Abbott, Victoria Graham and Rosalind Hunter (corporate/securities) and Patrick Marley (tax).

Royal Bank was represented in Trinidad and Tobago by Pollonais, Blanc, de la Bastide & Jacelon, with a team that included Courtenay Williams, Celeste Mohammed and Amalia Maharaj, and in the United States by Sullivan & Cromwell LLP, with a team that included Donald Crawshaw and Mark Schneiderman.

RBTT Financial Holdings Limited was represented in-house by Group Corporate Secretary & General Counsel Nicole Richards and was represented in Canada by Stikeman Elliott LLP, with a team that included Richard Clark, Dee Rajpal, Sheel Parekh and Himesh Ghai (corporate/securities), David Finkelstein (tax).

RBTT was represented in Trinidad and Tobago by Jo-Anne Julien of M.G. Daly & Partners.