Skadden, Arps, Slate, Meagher & Flom's new Hong Kong law practice is picking up speed with a Nick Norris-led team advising on the US$580m acquisition of Asia Commercial Bank by JCG Holdings - the Hong Kong arm of Malaysia's Public Bank.

Norris, who joined Skadden last year to spearhead its local law practice, said the appointment came from a referral from JP Morgan which is also advising Asia Financial Holdings - the owner of the Hong Kong bank - on the sale.

"This was a very competitive auction process where we had 12 preliminary bids and it was all done in a fairly short timetable," Norris noted.

Woo Kwan Lee & Lo advised JCG on the transaction, with partner Carmelo Lee leading the team.